Citi Predicts Bitcoin Surge to $143K

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.