No, not a doom and gloom, quite the opposite.

Basically, the early year swings and volatilities were all manifestations of the necessary price discovery of Bitcoin against the fiat. But starting from the ETF, and corporatisation of Bitcoin, as volatility has dwindled a lot, can we say the price discovery of Bitcoin is almost finishing now and now it will mostly keep pace (or somewhat beat) inflation like Gold does?

Now, things that propel Bitcoin to eye-watering heights will be only if some governments decide to hyper-inflate their currency (which will do the same thing to gold as well).