First make a substitution: $i^2 = -1$
$$\sqrt[4]{-16} = \sqrt[4]{16i^2} = \pm2\sqrt{i}$$
Now we have to find the square root of of i. We have:
$$(a+bi)^2 = i$$
$$(a^2-b^2) + (2ab)i = 0 + 1i$$
This implies that $a^2-b^2 = 0$ We have 2 options: $a=-b$ and $a=b$
For first option we have $-2b^2 = 1$, which doesnt have a solution in $\mathbb{R}$ It means that $a=b$. This implies:
$$2b^2 = 1$$
$$b = a = \pm\frac{1}{\sqrt{2}}$$
So substituting back we have:
$$\sqrt{i} = \pm\left(\frac{1}{\sqrt{2}}\right)(1+i)$$
So this leads to 2 solutions:
$$\sqrt[4]{-16} = \pm\left(\frac{2}{\sqrt{2}}\right)(1+i)$$
And your thought is wrong because:
$$(2i)^4 = 16i^4 = 16\text{, not $-16$}$$