Yes, but at the same time, the amount required to increase the price of bitcoin has risen a lot as well. Increasing bitcoin from 100 dollars to 1k dollars is 10x return, but took very little money, whereas increasing from 100k to 1 million would be still a 10x return, but require countless amount of money more.
This is why I am sure that while we have a lot more money and people going in, we also need a lot more money and people too, so it is not a shocking thing that it may take a while. I am not saying it will take 50 years, but it may make as much as 8 years to get there, not entirely sure we will have it on the next bull run, I am sure won't happen this bull run, but not even sure about the next one, could be the one after that.
Yes, we should note that as the price of bitcoin increases, the capitalization will also get larger and it will take a lot of money for bitcoin to reach $1 million. We only need a little over $1.8 trillion for bitcoin to go from $10k to $100k but it would take over $18 trillion for bitcoin to go from $100k to $1 million. This gap is huge and will take a long time, although both are 10x growth but they are not the same as many people think.
I have no predictions on when bitcoin will hit $1 million and the market cap will hit $21 trillion but I am not optimistic when someone says it will probably happen in the next 8 years. That time frame is too short and the target is too big because bitcoin is not even globally recognized at the moment.