Ark Invest raises Bitcoin's bull market target price to $2.4 million by 2030, based on a more aggressive model forecast

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