These are certainly all valid reasons for the way the price developed after the last halving, though I wouldn't too quickly discount the fact that with every halving the amount of reductions is also 50% smaller, hence I believe (as others already said here) the effect of the halving we will see will be weaker with every new halving. I believe this will somewhat flatten the curve (pardon the pun) over time and therefor the following "winter"/bear season might also not be as cold as it was in the past, so to speak.

With the 1st halving the daily new BTC supply was reduced by 3600 coins
With the 2nd halving the daily new BTC supply was reduced by 1800 coins
With the 3rd halving the daily new BTC supply was reduced by 900 coins
The next halving will reduce the daily supply "only" by 450 coins (only 12.5% reduction of the first halvings reduction!)

Ofc I'd love to see the price to go the moon in the next bullrun and growing adaption and the much touted ETF thingies might offset the above described effect of weaker halvings to some degree.
We'll see, but I consider everything 6-figure ATH in the next two years as perfectly fine for my expectations. (Could perfectly live with a 300k ATH too, no problem there  )