But institutions don’t like high volatility. That means crypto enthusiasts should forget about Bitcoin doubling in price after every halving. Crypto is gradually turning into a more ordinary asset, much like stocks or forex.
This is a normal event, as people flock into the market, and the market gets saturated, the once high-yielding market will then stabilize since the demand and supply will eventually even out each other. But I do not think that Bitcoin has already saturated the market since there are still lots of room for the Bitcoin Industry to grow. I think Bitcoin can still continue it pattern for the next 4 cycle since institutions are just starting to accumulate and the law about Bitcoin reserve on each country will take sometime to propagate thus there is still room for independent investors to take profit.
It is true that eventually the profit on each cycle will barely double the previous ATH (that is where the market price is heading anyway), but it won't be happening soon.