The much-awaited EIP-1559 upgrade will make ETH scarcer than ever. Demand seems to be on the rise lately, although prices have stalled quite a bit because of the bearish market. Projects like Uniswap, Compound, Aave, and even MakerDAO should make ETH more valuable over time. At a price of $2,085 (since the time of this writing), I'd say that ETH is quite a bargain these days.
I had the feeling that scarcity of ETH supply could take effect on the price instantly as the demand tends to lower this time due to another platform that people are using nowadays BSC. I know that there are many exchanges still supporting and using ERC-20 smart contract but the fact that BSC's existence is getting strong, it gonna be sort of market competition.
Ethereum price will surely move but not it gain a straight mark up, $5k is close to the possibility but not $10k.
I hope I was wrong but just to hopes that this will give a huge impact on its price.