Citi lowers its 12-month bitcoin price target to $82,000 and ethereum to $2,240.
Foresight News reported, citing Reuters, that Citigroup has lowered its 12-month outlook for Bitcoin and Ethereum, reducing Bitcoin’s target price from $112,000 to $82,000 and adjusting Ethereum’s anticipated price from $3,175 down to $2,240. Citigroup stated that waning investor interest, decreasing inflows into exchange-traded funds, and the lack of progress in US digital asset legislation have all negatively affected the prospects of these two cryptocurrencies.
Citigroup indicated that this adjustment is due to its decision to revise its assumption for net ETF inflows over the next 12 months from $1 billion down to zero. The report also noted that sluggish progress on US cryptocurrency legislation and concerns that digital asset management companies might sell Bitcoin have dampened investor sentiment, with this weakness coinciding with a shift of funds toward artificial intelligence-related assets.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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