I see bitcoin becoming an institutional coin in the nearest future. institutions are beginning to buy bitcoins in billions of dollars. this will automatically reduce the amount of bitcoin in circulation thereby forcing up bitcoin price.
Isn't this what we are witnessing already? It plays on the simple economic principle of demand and supply. We can vividly recall how Bitcoin price spiked when Elon Musk bought that over a billion dollar worth of BTC through Tesla. About Bitcoin becoming an institutional coin, that's a given. However, we really can't pin it down to what is driving the price up now — perhaps, either the halving incident late last year or the institutional demand for it. Well, whichever one, it's still a positive for Bitcoin.