Greed is the main driver for btc growth. We have seen that greed can make things grow very rapidly, so 50k -theoretically- is not impossible if we get a huge FOMO effect again. At the same time, some people might be more cautious because they experienced the fall from 20k to 5k.
Btw, I don't think the price increase will be created purely by institutional investors. We need huge demand from retail investors and yes, they are triggered by greed and FOMO.