According to ARK Invest, Bitcoin's recent drop from $100,000 to $95,000 is just a temporary pause before its value significantly increases. Research associate David Puell predicts price targets of $104,000 to $124,000 by the end of the year based on historical seasonality and on-chain data analysis. Puell believes that Bitcoin's cyclical nature will remain intact unless there is strong evidence to the contrary. He estimates a potential cycle top between $126,000 and $134,000, but these targets could increase if market momentum strengthens. However, Puell also acknowledges the theory of diminishing returns as Bitcoin matures, suggesting that a peak of $134,000 would only be a doubling of the 2021 all-time high compared to the three-fold increase seen in the previous cycle. ARK Invest is prepared for this scenario but admits that the data is inconclusive on whether this trend will continue.



Other News from Today