Society is still pretty skeptical of Bitcoin, which is a good thing. It means we're still in the early adoption phase and we probably have a couple more of these cycles left. Once it becomes obvious to everyone, it's unlikely to keep repeating. At that point I expect the trajectory to change. Either we'll enter a bearish supercycle and adoption will wane, or we'll enter the vertical phase of an S-curve and price/adoption will rise much faster than ever before.

In the S-curve scenario, I think 8-figure USD valuations for BTC are possible, and probably a lot sooner than most people around here would expect too.