Citigroup Lowers 12-Month Bitcoin Price Forecast To $112,000, ETH To $3,175—H...
Despite a recent resurgence in prices, Bitcoin (BTC) and Ethereum (ETH), the two largest cryptocurrencies by market capitalization, are not expected to achieve new all-time highs this year, according to analysts at Citigroup. The company significantly revised its forecasts for both cryptocurrencies on Tuesday, reflecting concerns about the slow pace of legislative progress in the United States, which limits the potential for regulatory catalysts that could drive increased demand from institutional investors and exchange-traded funds (ETFs). Bitcoin And Ethereum Price Targets Revised....
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American banking giant Citigroup has shared a highly bullish forecast of the stablecoin market in its latest market perspective report. Alongside this intriguing insight, Citigroup has also highlighted potential hurdles and roadblocks for these fiat-peg virtual assets. Related Reading: Bitcoin Advanced Sentiment Index Signals Strength – Bears Face Risks As Bulls Take Control US Regulatory […]
Citigroup CEO Jane Fraser warns that a recession is more likely in Europe than in the U.S. Nonetheless, she stressed that it is not easy for the U.S. to avoid a recession.
Citigroup’s CEO on Global Recession
Citigroup CEO Jane Fraser warned about the health of the global economy Friday, Reuters reported. Citi is the third-largest and most globally-focused U.S. bank.
Speaking at an investor conference in New York, she talked about how “the three Rs” are affecting the global economy, stating: “It’s rates, it’s Russia, and....
Citigroup is reportedly awaiting regulatory approval to start offering bitcoin futures trading to its clients. “We are presently considering products such as futures for some of our institutional clients, as these operate under strong regulatory frameworks,” said Citigroup. Citigroup Awaits Regulatory Approval to Trade Bitcoin Futures Citigroup Inc. is reportedly considering whether to offer its biggest clients trading in bitcoin futures, Bloomberg reported Tuesday. “Our clients are increasingly interested in this space, and we are monitoring these....
Citigroup is reportedly looking to hire 100 people for its new crypto team. “We believe in the potential of blockchain and digital assets including the benefits of efficiency, instant processing, fractionalization, programmability, and transparency.”
Citigroup Growing Its Crypto Team
Citigroup is reportedly looking to hire 100 people to grow its digital asset team within its institutional business, Bloomberg reported on Monday, citing a person familiar with the matter.
Puneet Singhvi will be the firm’s new head of digital assets within....
Following an all-time high (ATH) reached last August, Ethereum (ETH), the market’s second-largest cryptocurrency, has found itself in a consolidation phase, trading between $4,200 and $4,700. This price range reflects a broader stagnation in the cryptocurrency market, as various digital assets, including Bitcoin (BTC), struggle to regain the momentum that led both BTC and ETH reach new records above $124,000 and $4,9000 respectively. Notably, Citigroup, the third-largest investment bank in the United States, has tempered expectations for the Ethereum price, forecasting a year-end....