To hit that ATH of $126k again, I think late 2027 or early 2028 if market liquidity improves and some of these institutions money starts flowing back again in a consistent manner. But first, I think we need to see BTC claim that 100k level first. Long term we are definitely bullish, I'm not just not expecting a linear way back to ATH, it will not be easy.
There will always be a lot of liquidity during the bull market, the next block halving is scheduled on April 2028. So it we will at the year, there could be a lot of hype around that time already that we might see a lot of movement prior to the one catalyst.
But let's see, there are a lot of proponents of a super cycle, so there could be a lot of changes in the cycle if that happens. But for the ATH to be repeated then we will have to wait for the block halving. Although from the last time I check, fees are too high around that period so hopefully, we don't encounter that issue before prior to the halving as we might have suffer because there could be a lot of movement.
Yes, because it's a bull market, but what I wanted to emphasize is that the constant flow of large volumes of liquidity is a sign that the market is confident. That's still a long way tbh, but does crypto always need to wait for the halving so we can see a new ATH? I don't think so, it has matured already to be labelled as a speculative asset that will depend on its halving dates.
There have been a lot of changes we've seen on Bitcoin, and those times are wild tbh, and I think off-chain like LN and these rollups/sidechains could be an answer to those fees. I ain't worried a bit about that unless I constantly have to spend with it trading or doing some P2P stuff.