The tech-savvy investment firm is feeling pretty optimistic about Bitcoin as we approach the end of 2024.
They believe that BTC could smash through the six-figure region before the year wraps up, and 2025 will be epic!
Vires in numeris
In a new report, ARK analyst David Puell dove into historical data to make some predictions about Bitcoin’s future.
He looked at trends dating back to 2011 and thinks Bitcoin could climb as much as 36% from its current price before New Years Eve.
As of November 13, the time of the publication Bitcoin’s performance multiple hit 2.14x, which is better than the average of 2.06x for all years from 2011 to 2023.
It also outperformed the 2.04x average during previous halving years in 2012, 2016, and 2020.
If Bitcoin keeps up this momentum and matches historical averages by the end of December, Puell suggests we could see prices soar between $104,000 and $124,000. That’s a pretty enticing prospect for anyone holding BTC, ngl.
A real bull market on the horizon
But there’s more! Puell doesn’t think Bitcoin’s bull run will stop at the end of this year.
He believes that if President-elect Donald Trump’s administration seriously considers adding Bitcoin to the U.S. government’s balance sheet, we could see even more bullish momentum heading into 2025.
“Bottom line, if institutions keep flocking to this new asset class and the U.S. government explores adding Bitcoin to its strategic reserves, we expect a strong finish to 2024 and continued upward movement in 2025.”
The mother of all bull runs
Lately many investors are closely watching Bitcoin’s performance and potential regulatory changes under the new administration.
If ARK Invest’s predictions hold true, and some say it’s not just true but straight up conservative, it could signal a major shift in how both institutions and governments view cryptocurrency. Either way, 2025 will be quite exciting!
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