Ark Invest raises Bitcoin's bull market target price for 2030 to $2.4 million, based on more aggressive model predictions
ChainCatcher news, according to The Block, Ark Invest, led by Cathie Wood, has raised its bullish price prediction for Bitcoin from the previous $1.5 million to $2.4 million (target date is 2030), based on its latest adopted model.In a report released on Thursday, Ark Invest analyst David Puell stated that the firm initially estimated the price prediction for Bitcoin in a bullish scenario for 2030 to be around $1.5 million. However, after adopting Ark's latest experimental model, the prediction was raised to $2.4 million. This model takes into account the circulating supply of Bitcoin, excluding lost or long-held Bitcoins.The report noted that this bullish price prediction is based on an approximately 72% compound annual growth rate (CAGR) for Bitcoin from the end of 2024 to the end of 2030. Meanwhile, using this more "aggressive" experimental model (which is more ambitious than Ark's official model), the report predicts a price of $1.2 million for Bitcoin in a baseline scenario (with a CAGR of 53%) and a price of $500,000 in a bear market scenario (with a CAGR of 32%).