With the performance of Bitcoin lately, one will be convinced without much doubt that Bitcoin will reach $200K in this bull run because if the bull run will span across this whole year as speculated, then we can still achieve $200K in this bull run if the market will at least perform like this two more times before the end of the bullish market.
How so?
It took almost two months of stagnation before we crossed the previous ATH (from May) and we moved by only +10%. Many have expected that the cycle might have already been over, so crossing $120k sounds pretty good, but I don't see BTC going to $200k this cycle, wit marketcap already way over $2 trillion. With th price dynamic consistent to what we had so far, I don't think even $150k is realistic.
I'm not saying it's impossible, but we would need to see some really big money flowing in. A massive inflow of retail money could get us there, but those who are getting in clearly prefer altcoins in hopes for faster and higher gains. And most know that the bull run is coming to an end so will be much more cautious than the last time, keeping their fingers on the trigger and looking for a good moment to cash out.