Citi Boosts Bitcoin, Ether Price Targets Amid Crypto Revival
Citi has raised its price targets for Bitcoin and Ether, citing improved market participation, a supportive macro environment, and ETF inflows returning to crypto. The bank now predicts Bitcoin will reach $113,000 in 12 months, up from $82,000, and Ether will hit $3,028, a rise from $2,240.
According to Citi, the recent uptick in cryptocurrency trading activity has been driven by a combination of factors, including a more favorable regulatory landscape and increased investor interest. The firm expects $5 billion in fresh inflows over the next year, with investors gradually becoming more comfortable allocating capital to crypto assets.
Notably, Citi's upgraded price targets come despite ongoing regulatory uncertainty surrounding digital assets. However, the bank suggests that the recent failure of The Clarity Act has actually led to a decrease in negative sentiment and an increase in investor interest.