This is certainly a troublesome question and one that isn't easily answered due to the many factors that are yet to affect it.
Some of those factors include Liverpool's performances until the end of the season as well as the business the club may/may not conduct in the summer transfer window.
The truly unpredictable nature of sports means that we can never really be 100% sure about what will happen, but I believe there are three likely possibilities on what the expectation for Liverpool would be next season.
Liverpool wins the Premier League
Although it seems like a long shot, Liverpool still have incredible quality in their squad capable to win the Premier League.
Just last season, they were neck-and-neck with Manchester City, only to miss out on the title on the final day.
However, any potential domestic victory is incumbent on a busy summer for Liverpool who requires at least two midfielders and a center-back, with both sections of the pitch struggling massively this season.
Not only does Liverpool have quality, but they also have the experience of being in extremely stressful situations and coming out on top.
Liverpool qualifying for Champions League
With the club currently fighting for Champions League qualification, it's not out of the realm of possibility that we could see a repeat of this next season.
The improvements of the likes of Arsenal, Manchester United and Newcastle mean that the top-four race will only be harder from now on and Liverpool certainly isn't guaranteed a space in that position.
The financial strength of Liverpool's competitors compared to them is also a massive factor in the success the club can have.
The club's return to where they've been for the last five years may not be a quick ascent so fans may have to get used to a transition period on Merseyside.
Liverpool reignites their European dominance
The club have been a European powerhouse during Jurgen Klopp's reign, having reached four major finals in Europe, including three Champions League finals.
While Liverpool have won just one of those finals, they've once again become a feared opponent across the globe with teams hoping they don't draw the Merseyside club in knockout football.
It was only last year when the club stormed to yet another Champions League final under Klopp but came up short in a 1-0 defeat to fellow European giants Real Madrid.
That very same club humiliated Liverpool last month in a 5-2 drubbing at Anfield in the last 16 of the competition.
Simply put, Liverpool's bread and butter is European competition and a return to its powerhouse status could be on its way.
Who knows what may be of Liverpool as the new season starts in August, there could be wholesale changes to the squad or minimal departures.
Regardless, it will be an incredibly exciting season to tune into.
