Technology-focused investment firm ARK Invest, Bitcoin 
$91,170He predicts that it will exceed the six-digit price level before the end of 2024.
Bitcoin Price Targets
In a new report, ARK Invest analyst David Puell predicted where Bitcoin could be by the end of the year, based on historical data. Based on data dating back to 2011, Puell predicts that Bitcoin could rise 36% from current levels.
Puell said, “As of November 13, 2024, Bitcoin’s performance multiplier reached 2.14x. “This exceeded the 2.06x average of all sampled years from 2011 to 2023 and the 2.04x average of all years in which the halving occurred,” he said.
“If Bitcoin matched the overall historical average or the average of all halving years by the end of December, its 2024 performance multiple could be between 2.48x and 2.94x and its price could reach approximately $104,000 to $124,000.”
Continuation of Ascension
Puell also predicts that Bitcoin’s bull market will not stop this year. The ARK Invest analyst believes that BTC’s bullish momentum will be sustained if the new administration continues to explore the idea of adding Bitcoin to the US government’s balance sheet.
“As a result, if institutions continue to lean towards this new asset class and the US government seriously considers adding Bitcoin to its strategic reserves, we expect a strong close to 2024 and continued momentum through 2025.” – David Puell
At the time of writing, Bitcoin is trading at $89,966.
As a result, considering the targets and market dynamics set by ARK Invest for Bitcoin, important signals emerge for investors and market observers. Bitcoin’s historical performance and future predictions can play a role in shaping financial strategies.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
