The Wall Street brokerage’s target for bitcoin suggests a roughly 62% upside from its trading level of $88,085.42 as of 1000 GMT. For Ether, the ‘target’ indicates about 46% upside from its $2,953.65 level.
Cryptocurrencies have seen a massive surge this year following US President Donald Trump’s pledge to support digital assets. That has led to a shift by financial regulators to dismiss lawsuits against leading crypto platforms and create specific rules to accommodate digital assets.
“We expect regulatory catalysts to drive further adoption and flow,” Citi said in a note Thursday.
do you know
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors.
However, bitcoin, the world’s largest cryptocurrency, fell to multi-month lows in November as concerns over high tech valuations dampened investor appetite for risk assets.
Bitcoin fell more than $18,000 in November, its biggest dollar loss since May 2021, as a record amount of money left the market when a number of cryptocurrencies collapsed.
Bearish sentiment was exacerbated in December when Strategy — the largest corporate holder of bitcoin — cut its earnings forecast for 2025, citing a weak run in bitcoin.
“Token prices are nearing a statistical measure of value based on user activity following a price reversal from October highs,” Citi added.
In case of bulls, the brokerage sees Bitcoin reaching $189,000 and Ether reaching $5,132.
Citi expects Bitcoin and Ether to fall to $78,000 and $1,270, respectively, in a bearish environment.
As a trusted and reliable news source
Add now!
(You can now subscribe to our ETMarkets WhatsApp channel)
