That's because the price is denominated in, and raised by, fiat currency. You either have to fractionally fake users' fiat balances on your exchanges, or find more and more money to reach buywalls in order for it to rise. Those dollar bills/euro's/RMB's aren't %-based, and they're not infinite, except to the banks and governments, who generally have no need to bother with cryptocurrency, when they already hold the power of money creation. That means looking at old patterns that happened at price & adoption / manipulation levels orders of magnitude lower than now, and expecting the same % gains in 'the next bubble', is a logical fallacy - money functions according to a linear, geometric basis - it is not exponential, not %-based.. !!!
And that, is why it's so much harder to go from $300-700 to $2500-7500, than it is to reach 10x from $116.
... all this is predicated on constant supply. Money markets don't work like that. The fiat
value is exactly that, whatever people
value it at and has nothing to do with how much fiat volume is "coming in" to the market.
If the price expectation is that it will go to 100k or 1million and that is widely (>95%) expected then that is where it will go because the vast majority will refuse to sell/trade for any value different from the majority.
Same thing if everybody (>95%) woke up tomorrow and decided Argentinian pesos are worthless, noone will trade them for anything much of value.
Money markets are generally a game of psychology, expectations, lies, manipulations, jaw-boning, "forward guidance" .... Bitcoin has the rare property in modern money markets of a solid floor, a lower bound backed with mining POW grounded in real physical effort, expenditure of energy and other resources that cannot be faked.
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