TechFlow, December 20 — According to CoinDesk, Citigroup analysts released a Bitcoin outlook report for the next 12 months, setting a base case target price of $143,000, representing a 62% increase from the current level of approximately $88,000.
In a joint report, analysts Alex Saunders, Dirk Willer, and Vinh Vo stated that adoption of digital assets is expected to grow, U.S. digital asset legislation may advance in the second quarter, and Bitcoin could trade between $80,000 and $90,000 during the new year period. The report identified $70,000 as a key support level, with the base case scenario seeing Bitcoin surge to $143,000 driven by ETF demand recovery and positive equity market expectations.
The bank also outlined bearish and bullish scenarios: in a bear case, a global economic recession could push Bitcoin down to $78,500; in a bull case, increased demand from end investors could drive prices up to $189,000.
