Deep Tide TechFlow News: On March 18, according to CoinPost reports, Citigroup has lowered its 12-month price forecasts for Bitcoin and Ethereum, citing stalled progress on the U.S. cryptocurrency market structure "CLARITY Act."
Specifically, Bitcoin's target price was reduced from $143,000 to $112,000, and Ethereum from $4,304 to $3,175. ETF demand forecasts were also revised downward accordingly, with Bitcoin at $10 billion and Ethereum at $2.5 billion. Citi Research head Alex Sanders pointed out that regulatory progress will impact Bitcoin adoption and capital inflows, but the likelihood of legislation being completed this year has clearly diminished.
Deep Tide TechFlow News: On March 18, according to CoinPost reports, Citigroup has lowered its 12-month price forecasts for Bitcoin and Ethereum, citing stalled progress on the U.S. cryptocurrency market structure "CLARITY Act."
Specifically, Bitcoin's target price was reduced from $143,000 to $112,000, and Ethereum from $4,304 to $3,175. ETF demand forecasts were also revised downward accordingly, with Bitcoin at $10 billion and Ethereum at $2.5 billion. Citi Research head Alex Sanders pointed out that regulatory progress will impact Bitcoin adoption and capital inflows, but the likelihood of legislation being completed this year has clearly diminished.