Citibank Projects Bitcoin at $231K, Ethereum at $7.3K in 12 Months
CitiBank has released new 12-month price targets for Bitcoin and Ethereum, offering scenarios ranging from declines to significant gains.
- Bitcoin's base case is $181,000, with a bearish scenario at $82,000 and a bullish run potentially reaching $231,000.
- Ethereum's bear case is $2,000, base target $5,400, and bullish estimate at $7,300.
Market Influences
- US dollar strength and gold prices are seen as potential headwinds for Bitcoin.
- Institutional demand remains strong, which could drive Bitcoin upwards.
Comparison with Other Forecasts
- Standard Chartered and Fundstrat predict Bitcoin could reach $200,000 to $250,000 by the year's end.
- Tom Lee forecasts Ethereum could hit $15,000, surpassing Citi's projections.
Citi's forecasts serve both as a caution of potential sharp declines and as a roadmap for possible growth.