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City boosts Bitcoin and Ethereum outlook
Citigroup has raised its forecast for the prices of Bitcoin and Ethereum over the next twelve months, amid increasing cryptocurrency activity and favorable economic conditions, along with a rebound in capital flows into exchange-traded funds (ETFs). The firm expects Bitcoin to reach $113,000 and Ethereum to hit $3,028, representing a rise of approximately 37.8% from its previous projections, with $5 billion in financial inflows anticipated in the coming year. The outlook predicts a gradual recovery in institutional participation, supported by increased allocations, but this depends on sustained demand; if demand wanes, the targeted prices may lack the funding support needed in the short term.
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