[...] There was no market capitulation, scaling wasnt really resolved, chinese are still paralyzed and bitfinex is close to insolvency.
Bitcoin while performing quite well in all those year is not exempt from the laws of physics.
Indeed. So the market currently considers more weight to Bitcoin being an open, borderless, decentralized, permissionless, peer-to-peer network.
And on a longer time scale proven to be a great store of value, under
your own control.
(even though rumor goes there are still today legendary members, already burned once or twice, writing walls of text about some infallible money making strategytm, storing their private keys at multiple third parties)