Citi Bank has forecasted a significant increase in Bitcoin’s price next year, estimating it could reach $143,000. Analysts at the bank attribute this potential rise to growing acceptance of Bitcoin, increased investment through exchange-traded funds (ETFs), and possible regulatory clarity in the United States, which could attract new capital into the market. According to Citi’s projections, Bitcoin’s price may reach $143,000 as a base case within the next 12 months, with an optimistic scenario pushing it beyond $189,000. Conversely, adverse economic conditions could see the price fall to $78,500. Currently, Bitcoin is trading near $88,000, about 30 percent below its record high at the end of October.
Citi experts highlight that increased investor interest and an additional $15 billion investment in ETFs could boost token prices. Expected regulatory reforms in the U.S., aiming to bring Bitcoin under the Commodity Futures Trading Commission’s jurisdiction, are also anticipated to increase institutional investment. Recent price fluctuations in Bitcoin have largely been driven by global economic uncertainties and a decline in the technology sector’s valuation. November saw a notable price drop—the largest since 2021—accompanied by significant investor withdrawals.
Acceptance of Bitcoin is also expanding within the banking sector. Bank of America recently recommended its clients allocate 1 to 4 percent of their investments to digital assets. Similarly, PNC Bank has begun offering private clients direct Bitcoin trading services using Coinbase’s infrastructure. Analysts note that Bitcoin’s price is currently range-bound, facing resistance near $90,000 and weakening support around $84,000. A downward move could target the $68,000 to $72,000 zone, where demand may strengthen. At present, the market remains cautious, with investors showing limited bullish momentum.
Source: bitcoinmagazine
