Citibank´s Bitcoin price target set to 300,000 dollar
The same Citibank analyst also believes the gold price to reach 8.000 by 2022.
Citibank's Tom Fitzpatrick is a huge fan of big price targets. Earlier this summer, he hinted that gold could rise to $ 8,000 in the next two to three years.
Referring to his technical talents in Bitcoin (BTC-USD), Fitzpatrick says the "exponential movement" of crypto, followed by a massive correction, reminds him of the gold market in 1970 when that metal finally recalls its 50-year peg Raised in the range between $ 20 and $ 35 an ounce. Extrapolating this analysis, he expects Bitcoin to climb as high as $ 318,000 by the end of next year.
After falling below $ 16,000 this weekend, Bitcoin is back close to its multi-year high from last week this morning and is now selling for $ 16,315. GBTC + 0.85% ahead of the market.