Many investors are now seeing bitcoin as commodities that mean. That means they prefer bitcoin more than gold also there is a lot of demand for bitcoin pushing the price of bitcoin high.
Yes, There is no doubt that bitcoin prices are going to increase much more in the coming years because of the same reason you have mentioned i.e. high market demand.
At present, not even complete 10% people are using bitcoin and look at its prices, when the whole world or even half of the world will be using bitcoin, we can easily imagine the prices of bitcoin then. It will be the most expensive asset of the world by that time.