Predicting the price of Ethereum (ETH) for the fourth quarter of 2024 - How high could the price go?

#ETH
With all the developments in the cryptocurrency space, especially with Ethereum 2.0, Layer 2 scaling solutions and increased adoption by institutions, I want to spark a discussion about the position ETH can reach by the end of 2024, specifically in Q4.

So this is my perspective:
The best scenario, assuming the market continues to rise and positive macroeconomic factors such as inflation reduction, ETH could reach around $4,500-5,000. This is why:
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Ethereum 2.0 - The full implementation of ETH 2.0 has brought significant improvements in scalability, security, and energy efficiency, which could attract more developers and projects to the Ethereum network.
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Institutional investment - More institutions are showing interest in Ethereum as a store of value and the backbone of DeFi. If this trend accelerates, the demand for the US ETH Spot ETF could soar, pushing prices even higher.

Clarity of regulations - If we receive some positive news on the legal front, especially in major markets like the United States or Europe, it could alleviate some of the uncertainty surrounding cryptocurrencies in general, making ETH more attractive to investors.

The revival of NFT and DeFi - These areas are still mainly driven by Ethereum, and if we see a sharp increase in activity in these areas, the demand for ETH could significantly push up its price.

However, there are risks similar to potential competition from other Layer 1s (Solana, Cardano), global economic recession, or unfavorable regulations that may limit the price increase potential of ETH.

What do you guys think? Am I too optimistic about the $5,000 target, or do you think ETH can go even higher?