There are indeed rumours of LN activating (market begun pricing this in)
There are also rumours that BTC is going to be worth more in 2 years time than it is now....
Funny thing "value" and "worth" and"price"
Funny thing indeed.
There already is an actual demand for BTC imo - there will be a greater demand -no doubt the price will over shoot -and correct - many times- markets do what markets do - then ratchet up to new levels
I don't discount another retest of recent lows...nor the highs.
Currently still undervalued IMO
Undervalued compared to what. Sure I can say that BTC should be worth 1 million$ given how half of the world could use it in the future, but that is not how markets work.
Markets work on potential demand, potential as in it is likely that it will happen, not just some fantasy of some greedy traders. Many people say that BTC will have global dominance and replace the USD as reserve currency. I think those goals are foolish to consider, at least in the reasonable future anyway.
So those things are not priced into the market if we assume that most market participants are rational in the long term ,but not in the short.
What should be priced in is the irrational imaginations of nearby effects. And we just had that, either the China FUD will cause irrational panic, or the recent Segwit irrational hype is about to pop.
Either way, I see BTC going south.