I am thinking more 1 or 2. There are only four years left, and given how things have gone over the last eight, scenario 3 is far too optimistic.
Agree here. I have ranked the scenarios more or less in a descending order regarding probability. The first scenario, unfortunately, for me is the most likely one (50%+). However, the recent developments regarding Ark and some merchant adoptions give me a bit of hope that the probability of the "adoption scenario" could be higher than in previous times, maybe above 20% or so.
Regarding the "gold flippening" scenario, the scenario I have in mind would still not result in a full flipping (i.e. all Bitcoins being worth more than all gold in the world at the peak, that would be still too much for the early 2030s), but more in a narrative change where Bitcoin really is seen as a gold competitor -- and above all, decoupled from the political scene (we could say that Bitcoin had already a kind of "MAGA gold" moment with the Lummins initiative, but that was quite short-lived). It is the only chance I see for a really strong bull market like the previous ones, with prices more than tripling the previous 4-year ATH. It would probably be an one-time event, and later growth would slow down again.
It is, for me, a scenario that can happen at any time, as a possibility. It's like a "gray swan" I don't want to discard. I'd place the probability about 10% for until ~2030-32, but I agree that I would expect this more in a stage beyond 2030 (I've mostly mentioned years like 2035 or 2040 in previous occasions).
We must bear in mind that a 2x return, although it may seem modest given Bitcoin’s history, represents a 19% CAGR. This is an average return that none of the major assets—neither the Nasdaq nor gold, for example—can match.
Exactly. That's why I also think that a slowdown in price growth is nothing to worry about, but just a consequence of increased liquidity -- as long as it's accompanied by a reduction of downwards volatility.