{"id":19025,"date":"2024-11-29T10:19:25","date_gmt":"2024-11-29T08:19:25","guid":{"rendered":"https:\/\/forklog.com\/en\/ark-invest-predicts-bitcoin-surge-by-years-end\/"},"modified":"2024-11-29T10:19:25","modified_gmt":"2024-11-29T08:19:25","slug":"ark-invest-predicts-bitcoin-surge-by-years-end","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ark-invest-predicts-bitcoin-surge-by-years-end\/","title":{"rendered":"ARK Invest Predicts Bitcoin Surge by Year&#8217;s End"},"content":{"rendered":"<p>Bitcoin&#8217;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 <a href=\"https:\/\/www.coindesk.com\/markets\/2024\/11\/28\/bitcoin-could-hit-as-high-as-124k-before-year-end-says-ark-invest-analyst\">CoinDesk<\/a>.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe 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,\u201d the expert noted.<\/p>\n<\/blockquote>\n<p>ARK Invest experts believe that Bitcoin has taken a &#8220;breather&#8221; before reaching the $100,000 level and further growth.<\/p>\n<p>Puell justified his forecasts with the seasonality inherent in Bitcoin&#8217;s price:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cI would describe the current market environment as the middle of a bull cycle. [\u2026] We are about 55\u201365% of the way through. This places the peak of the Bitcoin cycle at approximately $126,000\u2013134,000.\u201d<\/p>\n<\/blockquote>\n<p>The expert added that the advent of Donald Trump&#8217;s administration in the US will impact the price.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cMonetary policy and the stance of the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> 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 \u2014 it will be like a whole new cake on the cake,\u201d Puell emphasized.<\/p>\n<\/blockquote>\n<p>In his view, over time, the same cyclicality will lead the market into a bear phase, and Bitcoin&#8217;s price will drop by 70% from its historical high \u2014 to the $30,000 level.<\/p>\n<p>At the time of writing, the leading cryptocurrency is trading at $96,200.\u00a0<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXdsRo32Im134mL5MRWtlS6qoaWzeQxr5ZGnSzV_nz8Tk6_YKjfiOAHDLf4bE5F2no7-bd_veZxurkworpDDbVUqDDrXAyQQw0jO1J3_ah4njxX_JQhiryyQnbNv02PtCDhyu0pjVw?key=G1jzQmCEpze-cZEXueL1wZDK\" alt=\"ARK Invest Predicts Bitcoin Surge by Year's End\"\/><figcaption class=\"wp-element-caption\">Hourly BTC\/USDT chart on Binance. Data: <a href=\"https:\/\/ru.tradingview.com\/chart\/?symbol=Binance%3ABTCUSD\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>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.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin&#8217;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. \u201cWe 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 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":19024,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1218,1146,1138],"class_list":["post-19025","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ark-invest","tag-cryptocurrency-market-forecasts","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/19025","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=19025"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/19025\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/19024"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=19025"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=19025"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=19025"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}