Ark Invest raised its ten-year-end bitcoin (BTC) price target as high as $ 2.4 million per year. The largest cryptocurrency by market value recently traded about $ 94,000.
The Bull-Project figure, 60% more than the estimate in January 2024, reflects an annual compound annual growth rate (CAGR) from December to the end of 2030. The basic case estimates a BTC price of $ 1.2 million-one 53% CAGR-Mens Bear case projects $ 500,000, corresponding to a 32% CAGR.
David Puell, an analyst at Cathie Wood-led investment company, used a model based on the overall addressable market and projected market penetration across several sectors. These include institutional investments, Bitcoin’s role as “digital gold”, its use as a refuge in new markets, adoption for national state and corporate chains and financial services on the chain built on the Bitcoin network.
Last November last year Puell targeted $ 104,000- $ 124,000 at the end of the year. Bitcoin ended December at $ 93,440 on the way to hit a record height of $ 109,000 in January before falling to low down to $ 74,500 earlier this month.
The rally since then is partly driven by falling exchange balances, indicating that more BTC is withdrawn in private wallets, a sign of long -term possession behavior. According to Glassnode data, the Exchange-Held BTC has dropped from approx. 3 million in November 2024 to 2.6 million, strengthening the growing bullish atmosphere around cryptocurrency.
