Citigroup’s Bullish Bitcoin Forecast: $143,000 in 12 Months
Meanwhile, Citigroup has set a base case price target of $143,000 for bitcoin within the next 12 months.
According to the Wall Street bank, this forecast relies on further crypto ETF inflows and a continued rally in traditional equity markets.
Analysts highlight $70,000 as key support, with the potential for a sharp rise due to revived ETF demand and positive market forecasts.
Bull and Bear Cases: $189,000 and $78,500
However, there’s also a bear case, and the group pegs that target at a lowly $78,500, or down more than 10% from current levels.
They believe a global recession would be the catalyst for this bearish scenario.
The bull case would be $189,000, or more than doubling from current levels, and that would be thanks to increased end-investor demand.
Regulatory Catalysts and Adoption
Consequently, regulatory catalysts — in particular passage and signing of the Clarity Act (already passed in the House) — should drive further adoption and fund flows.
Increased adoption of digital assets, spurred by potential U.S. digital-asset legislation in the second quarter, with bitcoin likely ranging into the new year around $80,000-$90,000 user-activity values.
They said to keep an eye on the $70,000 level as key support, noting that was roughly bitcoin’s price just ahead of Donald Trump’s 2024 election victory.
Bitcoin’s Price Action
Moreover, bitcoin bounced above $89,000 overnight, but bulls are once again struggling to maintain gains in the U.S. session.
ETH, SOL, SUI lead the altcoin rebound, up over 5% from Thursday’s lows.
U.S. equities are showing strength, also helping to boost crypto-related stocks like BitMine and Galaxy.
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