In a notable shift in sentiment, major American banks have updated their Bitcoin price forecasts, signaling a bullish outlook for the cryptocurrency over the coming year. According to analysts cited in the report, the outlook is promising, with Citibank and JPMorgan at the forefront of this trend, projecting substantial price increases.
Citibank's Bullish Bitcoin Forecast
Citibank has set a base scenario for Bitcoin at an impressive $181,000, indicating a strong belief in the cryptocurrency's future value. Meanwhile, JPMorgan has expressed that Bitcoin is currently undervalued, suggesting it should trade around $165,000.
Debasement Trade Strategy
These optimistic projections are rooted in the Debasement Trade strategy, which highlights Bitcoin's growing reputation as a reliable hedge against currency depreciation. As inflation concerns continue to rise, both banks are aligning their forecasts with a broader market sentiment that favors Bitcoin as a safe-haven asset.
