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Citibank sets Bitcoin target at $133,000…"Uptrend next year as well"
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- Citibank said it set Bitcoin (BTC)'s year-end target at $131,000 and its 12-month target at $181,000.
- It said the Bitcoin price uptrend is expected to continue next year and reaffirmed confidence in the 'digital gold' narrative.
- Ethereum (ETH) was reported to have its year-end target raised to $4,500 and its 12-month target to $5,440.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
Global investment bank (IB) Citibank has set a Bitcoin (BTC) target price of $133,000.
On the 2nd (local time), Reuters reported that Citibank set Bitcoin's year-end target at $131,000. As of the afternoon that day, Bitcoin was trading in the $119,000 range. This implies Bitcoin could rise by about an additional 12% over the current price this year. Reuters said, "The Bitcoin year-end target has been adjusted down somewhat," adding that "Citibank pointed to contrasting macroeconomic factors such as a strong dollar and weak gold prices as the reason for the downward adjustment."
It set Bitcoin's 12-month target at $181,000. This means Bitcoin's price could reach $181,000 within a year.
Citibank said the 'digital gold' narrative for Bitcoin remains valid. That's why Citibank expects Bitcoin's price uptrend to continue next year.
It set Ethereum (ETH)'s year-end target at $4,500. The 12-month target is $5,440. Reuters said, "Citibank raised its year-end target for Ethereum," adding, "increasing adoption through staking and decentralized finance (DeFi) platforms and potential revenue generation will drive the price uptrend."
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