True, since Bitcoin become a speculative asset, store of value, it will create a lot of hype specially around the bull run. We just don't know what will be the hype next, in 2024-2025 wherein we expect that the price will hit at least 6 digits. I think it will be more likely driven by the Bitcoin ETF approval and so more money will flow again. But after that, go back to normal again.
Bitcoin Spot ETF approvals, first one and more later in the USA. are most expected forces for Bitcoin bull run in 2024 and 2025. I have a similar thinking like yours and I think we already saw some signals that SEC are under bigger pressure from the USA. Congress to do their regulation more transparently and must be based on active laws. They must stop their arbitrary regulations like the last few years and BlackRock is expected to be a first entity will get a first approved Bitcoin Spot ETF in the nation. They have only 1 failed application in total 600 ETF applications they made.
In any case though, we have LN for smaller and faster transactions. But for the majority, what we wanted to see is that it be accepted universally, regardless if the mempool is clogged or not.
If people invest in Bitcoin, mempools won't be clogged. Because true investors don't often make on chain transactions, they buy and hold. Traders and fans of meme tokens like BRC20, make the mempools clogged.
