Let's be honest, market do not follow any rules. There is no rule or law that says BTC should reach another ATH next cycle and next after. What if 69K was the maximum it could reach, and for the next years or decades it will be mostly fluctuating between 15k and let's say 40k.
So, let's collect here the reasons why there will be ATH for BTC.
Name one (at least) reason, please.
And why do you think it's even really necessary to see another all-time high? ATH or no ATH, there are people who will still adopt Bitcoin because it provides a digital means of handling our financial records in a decentralized manner and allows users to be in full control over their assets. Perhaps the whole population of this world doesn't need to own Bitcoin for its purpose to be fulfilled. Even if the total supply of Bitcoin were divided among the world population, no one would own up to 0.5 Bitcoin, at which point the total supply of Bitcoin would not even be enough for the already existing Bitcoiners because there are still thousands of people who don't yet hold even up to 0.1 Bitcoin.
So my point here, @OP, is that Bitcoin has all possible reasons to still see a new all-time high based on the total supply, and also that Bitcoin was not even created for the ATH we keep speculating about; Bitcoin's purpose is for the common man and woman to have full control of their assets in a digital way and to carry out money transactions with anyone around the world.