ARK Invest Predicts Bitcoin Surge by Year’s End

Bitcoin’s price is set to exceed $104,000 by early January 2025, according to David Puell, an analyst at investment firm ARK Invest, in an interview with CoinDesk.

“We anticipate price targets between $104,000 and $124,000 by the end of the year. With the caveat that this is not a recommendation, the trend has so far aligned with this forecast,” the expert noted.

ARK Invest experts believe that Bitcoin has taken a “breather” before reaching the $100,000 level and further growth.

Puell justified his forecasts with the seasonality inherent in Bitcoin’s price:

“I would describe the current market environment as the middle of a bull cycle. […] We are about 55–65% of the way through. This places the peak of the Bitcoin cycle at approximately $126,000–134,000.”

The expert added that the advent of Donald Trump’s administration in the US will impact the price.

“Monetary policy and the stance of the SEC are what need to be focused on. But I would use this analogy: a strategic reserve of bitcoins will not just be the cherry on top — it will be like a whole new cake on the cake,” Puell emphasized.

In his view, over time, the same cyclicality will lead the market into a bear phase, and Bitcoin’s price will drop by 70% from its historical high — to the $30,000 level.

At the time of writing, the leading cryptocurrency is trading at $96,200. 

Earlier, analysts at CryptoQuant made similar predictions. In their view, Bitcoin metrics point to a target price of $146,000 within the current bull cycle.