Citi Raises 12-Month Bitcoin Target to $113,000 from $82,000 on Debasement Fears
Dow Jones
Yesterday
1131 GMT - Citi boosts its 12-month bitcoin target price to $113,000 from $82,000 as debasement fears return to markets. Renewed investor concern that high government deficits could erode the value of fiat currencies is one reason behind the shift in thinking. Regulatory clarity is another. "Paradoxically, the failure of the Clarity Act which spurred agency rulemaking, helped crypto regain technical levels," the analysts say. Citi adds that ETF inflows should be relatively sticky and consistent as investors gradually adopt bitcoin into portfolios. Bitcoin is 0.2% higher at $83,898.
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