Well, not every model is 100% correct, eventually you will realize that the more you spend time in the crypto world, some of them are correct whereas some of them are not that correct at all. So the question is, will this one be one of them that is correct and does actually end up happening, or is this one of them that doesn't make sense and end up being wrong.
I think there is a middle ground where it will not be too wrong and it will not be horrible, but it would go up and still be fine but not just that much. Just to give an example I think it will not be $100k, but it could definitely reach above $30k and under $50k, which is still going up a lot and that is why I think it will not be fully right but it wouldn't be fully wrong neither which is why I think it is quite possible to be half right in this model.
Just for some context in the last market cycle the price beat the old ATH by a factor of about 17. The time before that, if you count the quick 6 month crash and bull run in 2013 it was a factor of about 5, though since that was very short you could say that first peak in 2013 was just part of the run-up, so if you count that market cycle as from 2011 to 2013 then we're talking a factor of 36 times higher than the previous ATH. And the cycles before that were shorter and gained a ton but back then Bitcoin was very small and easy to move exponentially with new interest. My point is, if it went up by a factor of 17 last time, and about double that the time before, it is very unlikely it is only going to hit a price with a factor of 1.5 to 2.5 the old peak this time. That would be a very small bull run for Bitcoin if it ended between $30k and $50k.
If we say the increase above the old ATH will again be cut in half that puts it at let's say an 8x gain (roughly half of the 17x gain last time), so $160k. I think that is a bit high, but I'd say 6x ($120k) is a reasonable top end estimate for the peak of the current cycle. If you also factor in the fact that once you start talking about Bitcoin getting up to like a 2 trillion dollar or higher market cap you need a decent amount of institutional investment, and I'm not sure that big money will be in Bitcoin in large enough amounts in just the next couple of years to get it that high just yet. So I'd adjust that 6x the old ATH down to maybe a 4x or 5x. Still, we're talking high 5 digits with it possibly hitting $100k, or about double what you have written here. That's just my analysis, but $50k seems to be a very low estimate for the next peak.