The value of Bitcoin continued its robust upward trend on Thursday, nearing the significant resistance point of $120,000. This marks an increase of over 10% from its lowest point in September.
Bitcoin’s price might soar to $231,000 within the next year, as per Citigroup’s analysis. Such a rise would represent a 93% increase from its current valuation. The cryptocurrency is gaining traction due to heightened institutional interest and diminishing availability on exchanges.
Citi Forecasts Bitcoin Could Reach $232,000
Analysts on Wall Street are increasingly optimistic about Bitcoin (BTC) as demand continues to grow. In a report for clients, Citigroup outlined three potential scenarios for the cryptocurrency.
The bank’s primary scenario predicts that Bitcoin will surge by 50%, reaching $181,000 within the next year. In their most favorable projection, they anticipate it could climb to $231,000 during this timeframe.
Citi unveils new one-year price targets for digital currencies:
Bear Base Bull
BTC $82k $181k $231k
ETH $2k $5.4k $7.3k pic.twitter.com/AlpWPaK2YW— matthew sigel (@matthew_sigel) October 2, 2025
Citi credits this optimistic outlook to ongoing interest from American investors and financial advisors. They also project Ethereum (ETH) could rise to 5.4k in the coming year under their base scenario.
Citi joins other Wall Street firms in offering positive forecasts for Bitcoin’s future prices. For instance, BlackRock—which manages the largest crypto ETF—predicts that BTC will eventually reach $700,000.
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Likewise, Cathie Wood — founder of Ark Invest — expects it could exceed $ &50;,4000,&00 in long-term projections.
The bullish case suggests institutional investors are purchasing heavily, leading total inflows into ETFs surpassing $&54billion.&nbpsThe growing demand coincides with declining supply across exchanges coupled with increasing mining difficulty levels.&nbpsAdditionally, the transition towards becoming safe-haven assets akin digital gold enhances appeal further still following crises such COVID pandemic Ukraine war onset noted BlackRock white paper released earlier this year highlighting outperforming traditional asset classes post-crisis periods thus providing diversification benefits given lower correlation S&P500 Nasdaq others alike .
Technical Analysis BTC Price
Recent weeks witnessed resurgence bitcoin values daily timeframe chart revealing highest August fifteenth levels crossing crucial resistance points namely &113830 day exponential moving average EMA forming classic bullish flag pattern comprising vertical line descending channel typically heralding additional gains time come likely outcome initial jumps yearly highs &124200 psychological barriers subsequently followed extreme overshoot Murrey Math Lines tool position finalizing around131250 threshold mark .