Micah 5:2

"But you, Bethlehem Ephrathah, though you are little among the thousands of Judah, yet out of you shall come forth to Me the One to be Ruler in Israel, whose goings forth are from of old, from everlasting."
Micah 5:2

This verse is seen as a prophecy for the coming of the Messiah. He is described as 'the One to be Ruler in Israel, Whose goings forth are from of old, from everlasting', or 'from the days of eternity'.

Who is from eternity? Only God. Before everything existed, He was there.
Psalm 90:2: "Before the mountains were brought forth, or ever You had formed the earth and the world, even from everlasting to everlasting, You are God."

This is very important. Just like the prophecy in Daniel 7, this prophecy shows us that the Messiah is not just a human being, He is God incarnate.
Daniel 7:13: "I was watching in the night visions, and behold, One like the Son of Man, coming with the clouds of heaven! He came to the Ancient of Days, and they brought Him near before Him."

'Whose goings forth are from of old'. According to some theologians, this points towards Christ's eternal generation. He was begotten of the Father before creation. He is from eternity.
It has also been pointed out that the 'going forth' is also used in Deuteronomy 8:3 for a 'word' which 'proceeds from the mouth'. Who is the Word?
John 1:1-2: "In the beginning was the Word, and the Word was with God, and the Word was God. He was in the beginning with God."
Deuteronomy 8:3b: "But man lives by every word that proceeds from the mouth of the Lord."

This verse is pointing us towards Jesus. He was born in Bethlehem. He is King of kings and Lord of lords. He is the Word of God. And He Himself said:
John 8:58: "Jesus said to them, “Most assuredly, I say to you, before Abraham was, I AM.”"

Matthew Henry: "The Jews object that our Lord Jesus could not be the Messiah, for he was so far from being ruler in Israel that Israel ruled over him, and put him to death, and would not have him to reign over them; but he answered that himself when he said, "My kingdom is not of this world", John 18:36. And it is a spiritual Israel that he reigns over, the children of promise, all the followers of believing Abraham and praying Jacob."
Matthew Henry emphasizes that He reigns. And He shows this in the miracles He performed. The winds and seas obeyed Him, He called the dead out of their graves.