Ark Invest has released a Bitcoin valuation model outlining three pricing scenarios the digital currency could follow by the end of the decade. In a bull case, Bitcoin’s price in 2030 would be $1.48 million (duh, per coin!), an increase of around 3,400% from its price of nearly $43,000 at the time of writing.

The main investment thesis for Bitcoin is based on good old-fashioned supply and demand. Its source code limits the supply to 21 million pieces, and this scarcity is part of the reason for its value.

All in all, here’s what Ark’s valuation models suggest:

Bear case: $258,500, representing 515% upside potential; Base case: $682,800, representing 1,525% upside potential; Bullish case: $1.48 million, representing 3,425% upside potential.

In a similar fashion, Bitget predicted very bullish 2024 trends for Bitcoin and tokens created on the Ordinals protocol, as well as the growing influence of the Lightning Network.

They outlined that it's not just the popular BTC and ORDI that have potential for growth. Tokens created on Ordinals, Atomicals, and Taproot Assets protocols are expected to grow in both their values and popularity as well. Also, even though the current scale of Bitcoin-based non-fungible tokens (NFTs) is relatively small, the size of this market could grow 100 times in the future.