Citigroup "Forecasts Bitcoin at 143,000 dollars within the next year"

U.S. large investment bank Citigroup (Citigroup) presented a mid- to long-term bullish outlook for Bitcoin (BTC) and Ethereum (ETH).

On the 19th (local time), according to Coindoo, a crypto asset (cryptocurrency) specialized media, Citigroup in its latest market outlook report set Bitcoin's 12-month target at 143,000 dollars and Ethereum at 4,304 dollars. This is based on the assessment that there remains meaningful upside potential even after the recent correction.

Citigroup, in addition to the base scenario, presented optimistic and pessimistic scenarios reflecting the market's high price volatility. In a bullish environment, Bitcoin could rise to 189,000 dollars, while in a bearish phase it could fall to around 78,000 dollars.

Changes in the regulatory environment were cited as the key background for this outlook. Citigroup analyzed, "The main driver of the crypto asset market is shifting from speculative demand to institutional and regulatory structural changes," and "Signals of regulatory easing centered on the U.S. and the re-entry of institutional finance could lead to a mid- to long-term demand recovery."

However, it also noted that short-term volatility is likely to continue. Citigroup said, "The crypto asset market has moved past the stage of relying on excessive expectations, but it remains in a transitional phase that is still heavily influenced by the macro environment and financial market trends," and "The recovery path is likely to be gradual and uneven."