I'm reading Hatcher and trying to understand his statement about the Bott periodicity for the orthogonal group $O(n)$. Using the fiber bundle structure $O(n-1)\hookrightarrow O(n) \to \mathbb{S}^{n-1}$, and assuming a large enough $n$, we know that $\pi_k\left (\mathbb{S}^{n-1}\right ) = 0$ for $k<n-1$, hence in lower dimensions this sets up isomorphisms $\pi_kO(n-1) \cong \pi_kO(n)$ for $k<n-2$ via the long exact sequence
$$ \ldots \to \;\; \pi_kO(n-1) \;\; \to \;\; \pi_kO(n)\;\; \to \;\; \pi_k\mathbb{S}^{n-1} \to \pi_{k-1}O(n-1) \;\; \to \ldots $$
The thing I don't understand is his computation of $\pi_3O(n) = \mathbb{Z}$. The way I originally argued this to myself is that there is essentially a chain of isomorphisms $\pi_kO(p) \cong \pi_kO(q)$ for $p \leq q$, hence we could reduce this to $$ \pi_3O(n) \;\; \cong \;\; \pi_3O(3) \;\; \cong \;\; \pi_3 \left (\mathbb{RP}^3\right ) \;\; \cong \;\; \pi_3\left (\mathbb{S}^3\right ) \;\; =\;\; \mathbb{Z} $$
where the congruence $\pi_3 \left (\mathbb{RP}^3\right ) \cong \pi_3\left (\mathbb{S}^3\right )$ comes from the covering space isomorphism. However, if I'm understanding the chain of isomorphisms correctly (which I'm probably not), then couldn't we argue that
$$ \pi_3O(n) \;\; \cong \;\; \pi_3O(2) \;\; \cong \;\; \pi_3\left (\mathbb{S}^1\right ) \;\; = \;\; 0? $$
I'm self-studying topology and don't have too many people to discuss this with. I'd like to understand the root of my misunderstanding. For reference, the statement as claimed in Hatcher is the following table:
$$ \begin{array}{ l | cccccccc} i \; \text{mod} \; 8 & 0 & 1 & 2 & 3 & 4 & 5 & 6 & 7 \\ \hline \pi_iO(n) & \mathbb{Z}_2 & \mathbb{Z}_2 & 0 & \mathbb{Z} & 0 & 0& 0 & \mathbb{Z} \\ \end{array} $$
So the issue lies with you assumption that $$\pi_k(O(n))=\pi_k(O(m))$$ for all $m\leq n.$ This is not true.
In general you have a fibration $O(n-1)\to O(n)\to S^{n-1}.$ Now $S^{n-1}$ has no homotopy in degrees less than $n-1$ and $\pi_{n-1}S^{n-1}=\mathbf{Z}.$
So in the long exact sequence you get
$$\ldots\to\pi_{n}S^{n-1}\to \pi_{n-1}O(n-1)\to \pi_{n-1}O(n)\to \pi_{n-1}S^{n-1}\to \pi_{n-2}O(n)\to \pi_{n-2}O(n-1)\to 0 $$ so in particular $$\pi_{n-1}O(n)\neq \pi_{n-1}O(n-1),$$ and also $$\pi_{n-2}O(n)\neq \pi_{n-2}O(n-1).$$
However from the same construction you can note that
$$\pi_{n-i}O(n-1)\cong \pi_{n-i}O(n)$$ for all $i>2.$
In general you can conclude from the same arguments that $$\pi_k(O(n))\cong \pi_{k}(O(n-1))$$ whenever $n>k+2$
Note that the computation in Hatcher is for the stable range i.e. large enough $n$ so that the homotopy groups start stabilising. It is not for all $n$, specifially lower dimension $n$.
In particular, the full periodicity shows up for the group $$O=\varinjlim O(n)$$