Citibank projection: Bitcoin at $318,000 by December 2021.

According to a technical analysis provided by CitiFX, a potential Bitcoin (BTC) summit is expected to take place by December 2021, which is projected to reach USD 318,000.Individual traders are careful to calculate the value of this cryptocurrency so accurately, but they agree with the predictions of a massive increase in Bitcoin value in the nearest future.

BTC's historical ratings show that each subsequent upward trend takes longer and longer. The last one lasted three years and culminated in 2017. At that time, Bitcoin reached its record value of approximately $20,000.

According to this analysis, there is currently another growth period in progress, which started in early 2019 and may last four years until the end of 2022. It can therefore be suspected that such a long upward trend will make Bitcoin reach even higher rates. 

 

Individual investors point out that the Bitcoin value forecast of $318,000 is 102 times higher between its lowest and highest quotation. In a general analysis of all growth periods, this is the smallest proportion. However, it should be kept in mind that Bitcoin now has the most supporters in its history.

 

The change in the FED's monetary policy after the outbreak of the coronavirus pandemic is one of the factors contributing to strong and sustained monetary pressure. As the economic and employment situation on the market improves, this pressure should decrease again.

 

Source: Cointelegraph