In your opinion, what will be the new ATH of ETH during the next Bull run?

$Ethereum(ETH.CC)$ peaked just under $5k during the last bull run. If the issuing rate were to be the same as the last bull run, during the next bull run, then I would expect the new ATH to be around $10k. However, the merge has changed things.
You may have noticed somesone recently stating that ETH is now deflationary post-merge. This change of course happened after the last bull run. So, assuming the issuance will be less during the next bull run, compared to the last bull run, the new bull run price must be much higher.
So what are your ETH price predictions for the new bull run. $15k? $20k?
Personally I think it will peak at $12.5k.
$Bitcoin(BTC.CC)$ $Coinbase(COIN.US)$ $ETH/BTC(ETHBTC.CC)$ $Nasdaq Composite Index(.IXIC.US)$