Citigroup predicts Bitcoin could reach 143,000 USD in the next 12 months, an increase of about 62% from the current price of 88,000 USD, amidst recent declines in Bitcoin prices.
This bank believes that the main driving force may come from the possibility of the US passing laws related to digital assets in Q2, along with a recovery in ETF demand and expectations for market improvement.
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Citigroup predicts Bitcoin at 143,000 USD in 12 months, +62% from 88,000 USD.
Important support level: $70,000; active user value $80,000–$90,000 in the new year.
Scenario: drop to $78,500 (pessimistic) or rise to $189,000 (optimistic).
Bitcoin price forecast for 12 months and key milestones
Citigroup forecasts Bitcoin will reach $143,000 in the next 12 months, an increase of about 62% from $88,000.
In a joint report, analysts Alex Saunders, Dirk Willer, and Vinh Vo stated that they expect the push by potential digital asset legislation in the U.S. in Q2 to increase the adoption rate of digital assets. According to them, the active user value of Bitcoin could reach about $80,000–$90,000 in the new year.
The analysis team emphasizes that $70,000 is a key support zone. They also believe that prices could rise significantly due to recovering ETF demand and more positive market expectations in the upcoming period.
Pessimistic and optimistic scenarios
Citigroup presents a wide forecast range: $78,500 in the pessimistic scenario and $189,000 in the optimistic scenario.
On the risk side, they warn that in the context of a global economic recession, Bitcoin could drop to $78,500. This is a scenario accompanied by a high level of caution even though Bitcoin has experienced significant volatility recently.
Conversely, the optimistic scenario targets $189,000, provided that demand from investors increases significantly. In this outlook, cash flow factors and market sentiment could reinforce the upward trend, alongside catalysts such as policy and ETFs.
Source: https://tintucbitcoin.com/citigroup-bitcoin-co-the-dat-143-000-usd/
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