Citibank Executive Says Bitcoin Will Trade at $318,000 by End of 2021
Citibank Group’s Global head of Citifxtechnicals product, Tom Fitzpatrick expects to see the price of bitcoin peaking at $318,000 by end of 2021. Although he concedes that his prediction might seem improbable, Fitzpatrick argues that such a surge will still be the weakest rally for the digital asset when compared to other assets such as gold. He also adds that bitcoin is all about the”unthinkable rallies followed by painful corrections.” Bitcoin will see huge price swings before finally settling at the predicted price suggests Fitzpatrick. Similar Trends Writing in a....
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In an interesting turn of events, a traditional bank has been experimenting with its own cryptocurrency. Citibank has developed at least three of its own cryptocurrencies based on the same principles as Bitcoin. This is on the heels of other major league bankers admitting that block chain technology makes some traditional financial services redundant. The traditional banking industry stands to gain a great deal by adopting Bitcoin into its strategy, and this is why it probably comes as no surprise to many readers that Citibank would experiment in such a way. Also read: The Greek Bank Run....