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Citigroup Predicts Slower Yet Steadier Crypto Inflows

Citigroup Predicts Slower Yet Steadier Crypto Inflows

Citigroup has reportedly hiked its 12-month forecasts for bitcoin and ether as cryptocurrency activity picks up.

The brokerage raised its target for bitcoin from $82,000 to $113,000, and its forecast for ether from $2,240 to $3,028, Reuters reported Thursday (Oct. 1), citing a note from Citi.

That note said the bank anticipates that crypto inflows will resume at a slower but steadier rate as advisers and brokerages gradually up their allocations to bitcoin. Citi is also projecting $5 billion of inflows over the next 12 months.

Reuters noted that this comes on the heels of the U.S. Senate’s failure to advance The Clarity Act, which was designed to establish a digital asset framework.

“The Clarity Act’s failure narrowed the path…

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