If btc goes to 100k it will "only" have (more or less) doubled from its ATH.
From there it will need to rise another 100k in order to double again. I don't say this is not a good investment, but first of all crypto owners are spoiled, until up to now we were used to 10-fold, 20-fold + increases, so doubling the money has not been really special.
But this smaller reward ratio is paired with a much bigger risk ratio, since btc's swings in a correction period will also get bigger.
For hodlers who are in from the very beginning, it won't matter much probably, but where will btc find new buyers when it has reached 100k and needs to go up another 100k in order to double again in price?
And the fear of FOMO will also become smaller, as people will at one point accept, that the train has left the station.
Of course, should btc show convincing signs that it could reach 1 Million very quickly, then the whole picture changes.
This reasoning has a certain meaning. Indeed, now the price of bitcoin is quite high, over $ 55,000. Further increases in its price will be more difficult, and the risk for bitcoin holders will be more and more. People will worry about the large amounts invested in bitcoin, and with large price fluctuations, panic is likely. It will largely depend on how large the volatility of the bitcoin price will be, both this year and in the next few years. With high price volatility, the fear of bitcoin holders will be much higher. This will hinder its further price growth.