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Citi: Predicts Bitcoin could rise to $143,000 in the next 12 months
Deep Tide TechFlow News, December 20, according to CoinDesk, Citibank analysts released a 12-month Bitcoin outlook report, with a baseline target price of $143,000, representing a 62% increase from the current price of approximately $88,000.
Analysts Alex Saunders, Dirk Willer, and Vinh Vo stated in a joint report that digital asset adoption is expected to increase, U.S. digital asset legislation is likely to advance in the second quarter, and Bitcoin may fluctuate between $80,000 and $90,000 during the New Year. The report pointed out that $70,000 is a key support level, and under the baseline scenario, Bitcoin could surge to $143,000 due to ETF demand recovery and positive stock market expectations.
The bank also provided bear and bull market scenarios: in a bear market, a global recession could push Bitcoin down to $78,500; in a bull market, increased demand from end investors could drive the price up to $189,000.