Citigroup sets 12-month Bitcoin price target at $113,000, cites institutional demand

Bitcoin ’s recent rebound remains tentative, with BTC trading at approximately $83,400 in the latest reference snapshot from October 14. This level keeps the cryptocurrency about 35.5% below the newly revised 12-month price target set by Citigroup. On October 1, Citigroup raised its 12-month price forecast for Bitcoin to $113,000, up from a previous target of $82,000. This adjustment represents a 37.8% upward revision. The global financial institution, one of the world’s largest by assets, cited increased activity within the cryptocurrency market, improved macroeconomic indicators, and rising expectations that more professional investors will allocate capital to Bitcoin through advisers and…

Source: CoinTurk News