BlockBeats News, April 25th, according to The Block, Cathie Wood's Ark Invest has raised its price prediction for Bitcoin's bull market from the previous $1.5 million to $2.4 million (target year 2030), based on its latest adopted model.
In a report released on Thursday, Ark Invest analyst David Puell stated that the institution's initial price prediction for Bitcoin in a bull market scenario in 2030 was around $1.5 million. However, after adopting Ark's latest experimental model, this prediction was raised to $2.4 million. The model takes into account Bitcoin's circulating supply, excluding lost or long-term held bitcoins.
The report notes that this bull market price prediction is based on Bitcoin's approximately 72% compound annual growth rate (CAGR) from the end of 2024 to the end of 2030. Meanwhile, using this more "aggressive" experimental model (compared to Ark's official model), the report predicts Bitcoin's price in a base case scenario to be $1.2 million (CAGR 53%) and in a bear market scenario to be $500,000 (CAGR 32%).
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