Citigroup Adjusts Cryptocurrency Forecasts Amid Market Fluctuations
Citigroup has increased its year-end price target for ether to $4,500, citing robust inflows from ETFs and digital asset treasuries. Meanwhile, the brokerage has slightly lowered its bitcoin forecast to $133,000, due to macroeconomic influences such as a stronger dollar and weaker gold prices.
In a recent update, Citigroup adjusted its year-end forecast for key cryptocurrencies in response to shifting market dynamics. The financial institution raised its target for ether to $4,500 from $4,300, underscoring strong flows from ETFs and digital asset treasuries as principal factors behind the increase.
Conversely, Citigroup refined its expectations for bitcoin, lowering its prediction to $133,000 from an earlier target of $135,000. The brokerage attributed the adjustment to various macroeconomic factors, including the prevailing strength of the dollar and the decline in gold prices.
These revisions reflect the ongoing volatility and complexity within the cryptocurrency markets, as well as the global economic forces that influence their trajectories.
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