I have no problems seeing a bright future for BTC, but after a major retracement it might again take many years to recover. Look at the last sell off down to $3700. It took almost 4 years to make new ATH.
So should this be the major, expected drop, it could again take many years for BTC to reach 100k.
Many people will be dead before BTC will reach 1 mio.
May be
May be not
There are two possibilities
1. Long bears are followed by long bulls - in this case what you said might be true
2. The previous bear trends were completely due to panic sellers and weak hands.
This time the institutional investors are here and it's kinda hard for long bears to occur again unless they leave the market.
Most of the corrections in last 8 months were short-lived and bought by the traders.