Citigroup has raised its 12-month forecast for Bitcoin to $113,000, from the previous $82,000. Its Ethereum target was also increased to $3,028, from $2,240.
According to Citi, the change is driven by increased activity in the crypto market, macro conditions that are seen as supportive, and the return of capital flowing into crypto ETFs.
However, that figure is Citi’s projection, not a guarantee that Bitcoin or Ethereum prices will reach that level.
📊 Interestingly, this change in projections appears when institutional capital flows into the Bitcoin ETF have strengthened again.
Now that trading is underway, we will see whether the flow of funds is able to hold steady or undergo a reversal again.
Source: Reuters