Citigroup: Lowers BTC and ETH 1-Year Price Targets to $112,000 and $3,175

BlockBeats News, March 18th, according to CoinPost, against the background of the stalled progress of the cryptocurrency market structure bill, Citigroup has adjusted its price expectations for Bitcoin and Ethereum as follows:

Citi lowered its Bitcoin price prediction for the next 12 months in the "base case" from $143,000 to $112,000 and revised its Ethereum forecast from $4,304 to $3,175. In addition, the predictions in different scenarios are as follows:

1. Pessimistic Scenario: In the event of an economic downturn, Bitcoin could fall to $58,000, and Ethereum to $1,198;

2. Optimistic Scenario: Driven by strong retail investor demand through channels such as ETFs, Bitcoin could rise to $165,000, and Ethereum could reach $4,488.

Citigroup's research head, Alex Saunders, stated: "The improvement of the regulatory framework is expected to drive the adoption of Bitcoin and inflows of capital, but the likelihood of the U.S. completing relevant legislation this year is decreasing."