Assuming Bitcoin will continue to have bubbles like this, I think 250k is at least two bubbles off. And that statement alone sounds rediculous, but I don't think Bitcoin will ever hit $250k... And if it does, then the dollar must be crashing. I mean, that is just an insanely huge number, A significant portion of the wealth of the world would need to be moved into Bitcoin, and I don't see that happening. IMO the price will cap out close to $100k. I hope Bitcoin proves me wrong though, I'd love $250k as much as the next guy, but that is just my honest opinion.
Bitcoin's market is nothing. Don't forget that while Bitcoin's total supply is over 17 million right now, only 2 or so million of these coins are active in the way that they move at least once or twice a month, where a very large chunk of it is being used for altcoin trading purposes as well. In other words, there probably is less than 1 million coins in direct liquid BTC/USD circulation. This pool of coins is only getting smaller, and with institutions triggering the next fomo driven bull run, even $250,000 is peanuts.
Sure, it will trigger another major sell-off, but that's normal considering that you want as many old hands to sell their coins as possible to have new investors take these coins over. The more old hands dump their coins, the stronger the market will be in the long run.