Citi Sees Bitcoin & Ether Soaring to New Heights

Citi, a major financial institution, has revised its price targets for Bitcoin and Ether, expecting significant growth in the coming months. The bank's analysts predict that Bitcoin will reach $113,000 within 12 months, while Ether is forecasted to reach $3,028.

The revised targets reflect increased institutional demand for cryptocurrencies, driven by emerging spot Bitcoin and Ether exchange-traded funds (ETFs). These regulated investment products provide a gateway for traditional investors to access the crypto market without directly holding cryptocurrencies.

Citi's forecast also takes into account a softer US dollar and improved macroeconomic conditions, which can support alternative assets like cryptocurrencies. The bank expects cryptocurrency inflows to resume gradually over the next 12 months, reaching around $5 billion.