However, my second point is that it's true that the price a year ago was half of what it is now, but it doesn't show the full picture. The price was also a bit higher in November 2021, which was a little more than 2.5 years ago, and it was almost the same in April 2021, which was more than 3 years ago. So there is reasonable concern regarding long-term investment if the price was the same 3 years ago and Bitcoin doesn't seem to be able to grow significantly beyond that.
Not everyone can buy bitcoin at low prices like during the 2022 bear season, and many people bought bitcoin at 65k-69k$ 3 years ago as you mentioned. If someone buys bitcoin for $69k and 3 years have passed and they are still losing money then clearly bitcoin is doing very badly in their case. So you're right, whether bitcoin is doing well or not depends on each person's thinking, depending on the price at which they bought it.
This is why I always oppose some people who advocate newbies investing in bitcoin without looking at the price. It is true that the market needs liquidity but we should not advise others to buy bitcoin when we are at the end of the bull cycle and bitcoin has peaked or is near the peak. Many people say that those who buy bitcoin at 69k in 2021 will not lose money because they have not sold bitcoin, they are not wrong but to me, it is a failed investment because it has not generated any significant profit for 3 years.