Ark Invest Raises Bitcoin 2030 Bull Market Target Price to $2.4 Million Based on More Aggressive Model Prediction

According to TheBlock, Cathie Wood's Ark Invest has increased its bull market price prediction for Bitcoin from the previous $1.5 million to $2.4 million (target date 2030), based on their latest model. In a report released on Thursday, Ark Invest analyst David Puell stated that the firm’s initial price prediction for the 2030 Bitcoin bull market was approximately $1.5 million. However, after adopting Ark's latest experimental model, the forecast was raised to $2.4 million. The model takes into account the circulating supply of Bitcoin, excluding lost or long-held coins.

The report noted that this bull market 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 progressive compared to Ark's official model), the report predicts Bitcoin's price in the baseline scenario to be $1.2 million (CAGR of 53%) and in the bear market scenario to be $500,000 (CAGR of 32%).