Ark invest Raised its decade bitcoin (Btc) Target prices up to a high $ 2.4 million each after changing its assumptions to active supply, which excludes lost or prolonged coins. The largest cryptocurrency by market value has recently traded around $ 94,000.
The figure of bull-projection, 60% more than its January 2024 estimates.
David Puell, an analyst at the Cathie Wood-Led Investment Company, uses a model based on the total addressable market and expected market penetration into many sectors. This includes institutional investment, Bitcoin’s role as “digital gold,” its use as a shelter in emerging markets, adoption for country-state holders and corporate treasury and on-chain financial services developed on the Bitcoin network.
In November last year, Puell Target of $ 104,000- $ 124,000 By the end of the year. Bitcoin ended in December at $ 93,440 on route to hitting a record of $ 109,000 in January before falling into lows around $ 74,500 earlier this month.
The rally has since been partially driven by refusing the exchange balances, indicating that more BTC has been withdrawn in private wallets, a sign of Long -term handling Practice. According to Glassnode data, the BTC held by the BTC fell from approximately 3 million in November 2024 to 2.6 million, strengthening the growing bullish emotions around cryptocurrency.
