Bitcoin Forum

Citibank issues an insider's report saying Bitcoin will hit $318,000 by December, 2021, and calling Bitcoin 21st century gold. This video summarize the contents of the report where it analyzes Bitcoin cycles, monumental shifts in global monetary policies, and Bitcoin's role as digital gold and store of value in an inflationary environment.

https://youtu.be/YZSYjVFYxeA

The video doesn't show any link to the report. The guy is just speculating without citing a legitimate source from Citibank! And whatever is speculated by an employee of citibank, doesn't make it a Citibank insider report. It's more like a personla speculation!

Bitcoin is indeed the greatest performing asset of the last decade, but $318,000 seems really overestimated by the end of 2021. But yes, every person has a different outlook towards bitcoin and many famous people have already speculated highly about bitcoin. But this one seems quite far from reality!

Source of the article shown in the video: Citibank analyst seemingly predicts $318K Bitcoin price for 2021 (https://cointelegraph.com/news/citibank-makes-tentative-318k-bitcoin-prediction-for-december-2021)

you know we're in a bull run when analysts start appearing out of nowhere and begin to throw ramdom but massive btc price targets...300k next year?? LOL please, "analysts", do not use your obscure tasseography BS to predict the btc price, thank you   ;D

Yeah, just check out the article i posted above, you'll find the tweet with the citibank analyst report if you wanna read it, but tbh it just looks like your run-of-the-mill TradingView analysis. At least this kind of "news" trigger people to buy btc, so that's good

Do NOT take advice from BANKS  ;)

And Bitcoin is up 5% on the news...it has a ways to go to get to $318k by December 2021. Just for perspective, Citibank is proposing a 19x growth in Bitcoin from today's price over a time period of 13.5 months. So to hit this mark we need to see Bitcoin grow by $16.6k each month between now and Dec 2021. We've seen percentage swings like that before but it's still a wild thing to think about in nominal terms.


Fair warning. Perhaps the research we need to do is googling "totally unrelated, Citibank has XYZ bitcoin based project underway"...hahaha.

First they discard the bitcoin market and once they see that the price is rising then they will come up with a number that could be achieved but the only aspect that will not happen is you cannot set a date and time when that valuation would be achieved. I take the market as we see and the valuation is surging and it will reach another all time high valuation anytime soon but other than that it is impossible to predict.

Bitcoin is indeed a hidden gem and can be consider as a modern gold for investors but declaring a price of $318,000 is not a good move as we all know how volatile the market of bitcoin and it's price weren't guarantee, its like speculating something will about to happen without considering the effects from the people or market or as well the economy of each country.

https://decrypt.co/48277/grayscale-buys-240m-in-bitcoin-in-largest-capital-raise-week-ever
Grayscale this week bought another 15,114 Bitcoin ($241 million), bringing the total number of Bitcoin the company owns to 506,000, or $8.1 billion.
1 company owns 2.7% of all mined bitcoins (but we do not count the number of coins lost forever)
If large global companies want to buy bitcoins, then this price is real.

Very much to take this advice.

Banks are always for the profit and they have their own reasons why they're telling something against or in favor of investment. This could be the reason why it's pumping and bitcoin is about to reach $17k and that will be a matter of time.

Here they are, predicting and playing bitcoin's price again.

Menh! People have said a lot. I've $100,000 of which we've not even achieve half of it. Now they are saying it's going to hit $318,000 in a year time. Just a simple advice for you. These people are humans like you. They are saying what is coming from their own mind. Don't trust what you hear cause it'll take you no where. Just make your own observations and if possible your own predictions (thoughts). I feel that they sometimes hype it so investors will troop it. I don't know how well that works for them but... Don't just follow it.