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Home›Crypto›Market Structure›Citigroup lifts 12-month bitcoin and ether price targe…

Citigroup lifts 12-month bitcoin and ether price targets

Citi said renewed crypto ETF inflows and supportive macro conditions could drive $5 billion of investment product demand over the next year.

Reported · Written up by our desk · Market Structure

Citigroup raised its 12-month forecast for bitcoin to $113,000, up from $82,000, and increased its ether target to $3,028 from $2,240, citing renewed exchange-traded fund inflows and favorable macroeconomic conditions, CoinDesk reported.

Citi also expects cryptocurrency investment products to attract $5 billion over the next year as advisers and brokerages gradually increase bitcoin allocations.

According to the note highlighted by CoinDesk, bitcoin rose more than 10 percent after the Senate rejected the Clarity Act on Sept. 15, with subsequent SEC announcements and Treasury bond buybacks helping ease negative sentiment and revive parts of the crypto market.

Latest closeBitcoin $86,547.78 ▲3.6%

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Sources

CoinDeskCitigroup raises 12-month bitcoin target to $113,000 as ETF inflows resume

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