I think the expectations are highly above the reality as each halving reduces inflation by a smaller and smaller amount which will approach being irrelevant sooner rather than later. The only upside will be from adoption. Look at it this way, after the first halving 50%of bitcoin was already mined, ans just another 25% was going be mined during the second halving. Then third only produxed 12.5% and currently the 6.25 % at the end. So each time the multiplier will also be dived by 2. If it was let's say 1000% first cycle, second maybe 500 % third 250% and next 125% and so on. So maybe don't expect it to go over 69k (top) x225% =155k

Next cycle maybe just 155k x (1+1.25/2)= 252k at the end of the 2028 cycle which ends around 2032