Citigroup raises one year Bitcoin forecast to $113,000

Following a long term slump, Bitcoin has been on a roll in recent weeks—a trend that is likely to continue, according to Citigroup, which on Thursday raised its 12-month Bitcoin price target to $113,000 from $82,000. The investment bank said the upward pressure would be driven by renewed interest in cryptocurrencies and more favorable market sentiment.

Ethereum is  also poised for gains, with Citigroup marking up its future target for the second-largest cryptocurrency’s price from $2,240 to $3,028. 

The investment bank forecasted that demand for crypto-backed exchange-traded funds would fuel the price surge, with inflows reaching $5 billion over the next year. It also........

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