Just as you stated it "might" never reach it's ATH but it isn't for sure and we are already at $11K and it's current ATH is only around $20K.
We couldn't be so sure about it since we already see it go more than $14K if I am not mistaken after it hit so low at 2018 so there is still a chance that it could reach it and even go way more higher.
I think it is going to reach more than $20k by the end of the year, a new bubble? i don't think so, if it would reach another bubble, it would have reached it during the pandemic peak. now it is a normal increasing time.
but still, if people have no trends, and some media adopted the case of increasing to the price again it will make a huge jump and people will be thinking that we missed the previous bubble we need to buy now.
if this scenario happens it will be a mess and will go above 20k and even 50k