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The Economic Times
The Economic Times
Shreya Biswas

Bitcoin price target: Why Citi raised its BTC USD forecast to $113,000 from $82,000 as the cryptocurrency rebounds

Citi Bitcoin Crypto Citigroup ETF Fortune

Bitcoin (BTC USD) price target : Bitcoin has climbed back above $80,000 after a difficult stretch earlier this year, and Citigroup has raised its 12-month price target for the cryptocurrency to $113,000.

Citi previously had a target of $82,000. The bank’s latest forecast comes as crypto activity has strengthened, ETF inflows have resumed and market conditions have become more favorable, according to Fortune. Citi also expects $5 billion in crypto investment product inflows over the next 12 months as advisers and brokerages gradually increase their allocations, Bitcoin.com reported.

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