2017 was when retail users adopted Bitcoin. Institutions are governments were against it. Bitcoin moved from $1K to $20K
2020/21 is when institutions are adopting Bitcoin. If 10% of cash held by Fortune 500 gets converted to BTC, it's price will be $300K.
And in the next cycle, in 2024/25, governments will realize the importance of Bitcoin. Central bank reserves will have bitcoins in it. This is when we will hit $1M.
This year, the target of Bitcoin is $100,000 and in the next cycle after the halving in 2024, the target will be $1,000,000 according to the Stock to Flow model. The model is built up by Plan B.
That website has a real time updating chart for S2F model:
Bitcoin stock to flow model live chartIf the central banks and governments do more stupid things and print their fiats from the air or abuse CBDC and mint them from the air, Bitcoin will have faster growth to $1,000,000. Fiat hyperinflation equals to bitcoin recognition.