ARK Invest, a technology-focused investment firm, forecasts that Bitcoin 
$89,933 will surpass six-figure price levels before the end of 2024. In a recent report, analyst David Puell utilized historical data to project Bitcoin’s potential price trajectory as the year concludes.
Bitcoin Price Targets
Based on data extending back to 2011, Puell predicts that Bitcoin could rise by 36% from its current levels. He noted, “By November 13, 2024, the performance multiplier for Bitcoin reached 2.14x, exceeding the average of 2.06x for all sampled years from 2011 to 2023, and the average of 2.04x for all halving years.”
Puell further stated, “If Bitcoin matches the overall historical average or the average of all halving years by the end of December, the performance multiplier for 2024 could range between 2.48x and 2.94x, potentially placing its price between approximately $104,000 and $124,000.”
Continuation of the Uptrend
Puell also anticipates that Bitcoin’s bull market will not halt this year. If the new administration continues to explore the idea of adding Bitcoin to the US government’s balance sheet, he believes that Bitcoin’s bullish momentum will persist.
“As a result, if institutions continue to lean toward this new asset class and the US government seriously considers adding Bitcoin to its strategic reserves, we expect a strong finish to 2024 and ongoing momentum throughout 2025.” – David Puell
At the time of writing, Bitcoin is trading at $89,966. Consequently, considering ARK Invest’s targets and market dynamics, significant signals emerge for market observers and decision-makers regarding Bitcoin’s historical performance and future projections.
