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.
It sounds very convincing, my friend, but if in 2025 the government really legalizes crypto as an asset, it is not impossible that the price of bitcoin will rise that high, considering that the government will also be involved in the market.