According to a recent report from Citigroup, analysts have established a 12-month price target of $143,000 for Bitcoin, largely influenced by the anticipated surge in demand for spot exchange-traded funds (ETFs) and favorable macroeconomic factors.
The analysis highlights $70,000 as a significant support threshold. There is potential for a considerable price increase from current levels as institutional investments continue to flow into spot Bitcoin ETFs.
In a pessimistic scenario, the analysts predict that Bitcoin could drop to $78,500 if there were to be an economic downturn globally. Conversely, in a more positive outlook, they forecast that prices could reach up to $189,000 due to rising investor interest.