What is Citigroup's 12-month forecast for Bitcoin?

Citigroup forecasts Bitcoin to reach $143,000 within the next 12 months.

Why does Citigroup have a positive outlook on crypto?

Citigroup anticipates regulatory easing and increased adoption will drive further growth and investment in cryptocurrencies.

What are the bull and bear case scenarios for Bitcoin according to Citi?

In a bull case, Citi sees Bitcoin hitting $189,000, while a bear case suggests a drop to $78,000.

Home / Business and Economy / Citi Predicts Bitcoin Surge to $143K

Citi Predicts Bitcoin Surge to $143K

19 Dec

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Summary

Citigroup forecasts bitcoin at $143,000 and ether at $4,304.
Regulatory easing and increased adoption are driving factors.
Bull case scenarios predict bitcoin hitting $189,000.

Citigroup has unveiled significant 12-month price targets for cryptocurrencies, forecasting bitcoin at $143,000 and ether at $4,304. The financial institution anticipates that a combination of regulatory easing and increasing adoption will act as key catalysts for these projected gains in the digital asset market.

This optimistic outlook comes despite recent volatility. Bitcoin experienced a notable decline in November, reaching multi-month lows as investor appetite for risk assets waned amid concerns over high tech valuations. This period saw significant outflows from the crypto market following a collapse of several digital assets.

Citigroup's analysis indicates that current token prices are aligning more closely with statistical measures of value tied to user activity. In a bullish scenario, the firm foresees bitcoin potentially reaching $189,000 and ether $5,132, while a bear case scenario suggests declines to $78,000 and $1,270 respectively.