Citigroup raises bitcoin to $113,000, ether to $3,028 amid ETFs
Business
Citigroup just raised its price targets for bitcoin and ether, pointing to a big comeback in crypto ETF investments.
They now see bitcoin hitting $113,000 by next October (up from $82,000) and ether reaching $3,028 instead of $2,240.
Bitcoin jumps amid $800 million ETF inflows
bitcoin's price jumped over 10% at the end of September after some key events, like the Senate blocking the Clarity Act and the US Treasury rolling out a bond buyback program that helped turn things around for crypto.
Plus, after months of outflows from US spot bitcoin ETFs earlier this year, things flipped with $800 million flowing back in by late September.
Citigroup thinks ETF inflows could hit $5 billion in the next year as more advisers and brokerages get on board.