Bitcoin to Hit $135K by Year-End in Base-Case Forecast, $199K in Bullish Scenario: Citi

Description

Wall Street bank Citi (C) refined its crypto valuation models to reflect the evolving dynamics of the digital asset market, producing a new year-end forecast that puts bitcoin (BTC) at $135,000 in its base case. In the bank's most optimistic scenario, the largest cryptocurrency could climb to $199,000 by the end of the year, while a more bearish outlook, shaped largely by weak equities, pulls the forecast down to $64,000. The updated outlook incorporates a trio of key drivers: user adoption, mac...