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[casperBGD]

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More and more people are getting involved in the crypto space, which is great for adaptation. That's the biggest takeaway for me here, and more Citibank clients could be interested in it.

well, of course there will be more and more people who are interested in cryptocurrency because more and more people are talking about it and I think that many digital currencies that are currently circulating are adopting blockchain technology which is very good and can be the best reference so that it can increase the use of cryptocurrency.

agree, there should be more and more people in the crypto industry, and that should brought us to rising prices, since projects values will certainly go up, and fiat value is going down with each new money printing activity
BTC is currently on the rise, and could reach ATH before the end of the year, although market cap ATH is already reached, since there is more BTC today than at the end of 2017, so quantity on this price is more than lower quantity with 2017 prices

ATH price is the next step, and could come soon, with this tempo

[Ucy]

Well, any nation can easily save its fiat currency by keeping supply of the fiat low and demand high. I would detach alot from foreign consumption and focus more on local products/services. Encourage your local entrepreneurs and business people (both small, medium & large scale businesses) to produce things locally in large quantities without compromising on good/quality standards. Just try as much as possible to reduce foreign goods consumption. They should come to your countries to establish the businesses. Focus more on good basic things that much of the population depends on.

[Ucy]

Well, any nation can easily save its fiat currency by keeping supply of the fiat low and demand high. I would detach alot from foreign consumption and focus more on local products/services. Encourage your local entrepreneurs and business people (both small, medium & large scale businesses) to produce things locally in large quantities without compromising on good/quality standards. Just try as much as possible to reduce foreign goods consumption. They should come to your countries to establish the businesses. Focus more on good basic things that much of the population depends on.

In Addition to this^

If money needs to be printed, alot of it should go to many businessess (Small, medium, big businesses) that are local & exceptional and don't compromise on the good quality of their products/services, while remaining relatively cheap in price. The businesses should be chosen based on merit. Their owners should be good at making things faster/quickly manually or with equipments that are easy to make(*without compromising on products/services standards)
Such businesses should be helped to develop/expand with printed money and they should also be willing to take in apprentice/students.

I wish lots of the merit-based selections and distribution of funds are done on well decentralized system/network.

[FanEagle]

This is not something that I find shocking, bitcoin has been the gold of new age for a while now and considering we have moved to a institutional investment period in crypto world, I can easily say that bitcoin itself could worth however much we want but there is this situation where crypto related companies and investments reached to a new all time high, there are billions of dollars worth of money made per month from all those crypto related companies, from as big as binance to as little as faucets, when you put all the profits together it is a gigantic market all by itself.

This is why I believe it is highly important that we realize that bitcoin world will be bigger than gold world because there are not that many gold related companies, there are some but it is not diverse like we are, they are all similar to each other whereas you can start millions of different crypto companies.

[hulla]

Coming from Citibank which is a prestigious banking institution on a global scale, this is something not so easy to just dismiss. One thing we can learn here is that financial institutions are now embarking on a journey that can take them to  new heights with cryptocurrency. However, we know that banks are here for the money, nothing more nothing less. They must have realized that there is a big money to be made with Bitcoin and they are now starting to make a big stake. Can we then expect more big banks to get more friendly and open to Bitcoin? Yes, of course.

Although it is really lovely to see that almost all the institutions and banks now recognized Bitcoin potentials but they only join to make up for the lost cause by the economic meltdown so more banks will definitely join the crypto investment. But, I hope the crypto community and investors understand that once the Bitcoin market makes a new ATH market the institutions and other private companies that choose to invest in Bitcoin may decide to dump their holding which could lead the early market correction.
Let's set aside good capital to accumulate when that happens.

[ChiBitCTy]

Nice job putting this together.  I had heard Citi was bullish on bitcoin but wasn't exactly sure what they were saying about it until now.  I think this goes to show how far the adoption of bitcoin has truly come. When you're getting financial money transacting businesses such as PayPal and Citi Bank, that says a lot, as they never wanted anything to do with bitcoin initially.

[The Sceptical Chymist]

Seems to me as if I've heard all of this before--maybe not by Citibank, but nothing in that statement is original.  Pretty much every bitcoin bull has been saying the same stuff since the beginning of bitcoin.  Same goes for gold bugs, too.

On the other hand, even though I'm unimpressed by this, that doesn't mean other folks won't be or that it's not a bullish thing for bitcoin.  In fact I do think this is pretty bullish that a major bank's analysis of bitcoin's future is positive, because a lot of people who might otherwise not have given it a second thought are probably going to read this.

And wouldn't you know?  Bitcoin is above $16k as I write this.  Yowza!

[pixie85]

I'm a little scared.  

If the price of bitcoin rises to $ 318,000, what will be the consequences?  It can be assumed that hackers will start hunting for coins (satoshi) of users of the Bitcointalk forum.  New computer viruses (worms and Trojans) will appear.  People will stop trusting each other.  The governments of the countries will pass laws on confiscation of cryptocurrency, as was the case before with gold.  The largest reallocation of capital in history will take place.

I would have preferred that the rise in bitcoin prices was not that fast.

Hackers are already trying to get your coins but they were trying in 2017 and 2018 too when Bitcoin was above 10 thousand dollars. Do you think that having 1 Bitcoin in 2019 when it was worth less than 10 thousand dollars made you safe from hackers? If they had a way to get your coins they would do it in an instant and take everything without regrets.

I'd be more worried about people around you knowing that your bitcoin is now worth 200 or 300 thousand dollars. For many people it's a life-changing fortune.

And wouldn't you know?  Bitcoin is above $16k as I write this.  Yowza!

$17740 

[AndySt]

Seems to me as if I've heard all of this before--maybe not by Citibank, but nothing in that statement is original.  Pretty much every bitcoin bull has been saying the same stuff since the beginning of bitcoin.  Same goes for gold bugs, too.
On the other hand, even though I'm unimpressed by this, that doesn't mean other folks won't be or that it's not a bullish thing for bitcoin.  In fact I do think this is pretty bullish that a major bank's analysis of bitcoin's future is positive, because a lot of people who might otherwise not have given it a second thought are probably going to read this.
And wouldn't you know?  Bitcoin is above $16k as I write this.  Yowza!

Despite the fact that this statement about digital gold is not original and new, it is still worth reminding about it as often as possible in order to form the right mood among investors There is also a big difference when such statements are made by a little-known expert and quite another when such statements are made by such a solid organization as Citibank, whose opinion is listened to by many investors. And indeed, even if this does not impress you, then let it impress others and send the exchange price to heaven

[DrG]

Seems to me as if I've heard all of this before--maybe not by Citibank, but nothing in that statement is original.  Pretty much every bitcoin bull has been saying the same stuff since the beginning of bitcoin.  Same goes for gold bugs, too.

On the other hand, even though I'm unimpressed by this, that doesn't mean other folks won't be or that it's not a bullish thing for bitcoin.  In fact I do think this is pretty bullish that a major bank's analysis of bitcoin's future is positive, because a lot of people who might otherwise not have given it a second thought are probably going to read this.

And wouldn't you know?  Bitcoin is above $16k as I write this.  Yowza!

I agree with your sentiments. All this is a repeat of previous runs. It was clear that while Dimon didn't openly support crypto or Bitcoin itself he was clearly taking a stake almost like a little gambling on the side. If crypto fails his bank wins. If crypto wins he makes money.

The fact that this info got released by Citi means that they already loaded up on whatever Bitcoin they wanted, probably bank when it dipped below $3k. At this point any cheerleading you see is people looking to sell - the question is will $20k bagholder be made or $100k because you know it will go down again, and of course up again after that.

[DoublerHunter]

^ The best thing that here is that the future for bitcoin is almost at hand since more and more banks are starting to adopt it in their company. As a form of promotion to cryptocurrency this report from Citibank will make another huge leap for cryptocurrency and will make a way for it to be embraced by everyone which leads to global adoption. Though there are also disadvantages on this like more hackers and scammers will come especially if the bitcoin value will really reach a hundred thousand dollars and even the government of every country will do everything to have control over it which may break the idea of decentralized currency.

[SquallLeonhart]

You may think that local production is a great solution but having local production could cost a lot more for a very long period of time until it is optimized. Why do you think people buy from china? Just because they are cheap? They could be known as Chinese made and low quality stuff back in the day but these days you can buy the highest quality products from china without a worry, hell apple products are made in china and they are as durable as any and still cheap.

So, if you move to local production on as many thing as you can, that would mean you are going to cough up a huge startup capital cash into it but also would have to pay premium prices for it at the same time, and would hope to sell it to other nations to make it back. This could take decades until it could be perfected and decades in a nations economy is not short period of time.

[TheGreatPython]

People has been predicting $300k for 2021, how sure are they about this, and will the price continue to increase after it reaches a new all-time high price that is a bit above the $20,000 mark? Won’t there be fear in the market that will lead to people selling to again and the price dropping back?

I know it can be possible but saying it’s going to be 2021 is kind of unbelievable, so they are trying to say that we will be having a steady bull trend till it reaches the $300k mark, so what happens then? Will it fall back or continue from there to $1 million or what?

[deisik]

Let me quote some guy from Twitter who is allegedly familiar with this note from Fitzpatrick (I looked through the thread and didn't find anyone mentioning his twit yet). So here it is (link):

This kind of technical analysis is of little value. There is no edge in guessing targets so far in time with TA. All we know is that price is likely to continue going up, and a lot.

But readers loves this. What matters here is Citi's clients being exposed to the bitcoin moon

I think his reply sums it up pretty well

[fillippone]

Let me quote some guy from Twitter who is allegedly familiar with this note from Fitzpatrick (I looked through the thread and didn't find anyone mentioning his twit yet). So here it is (link):

This kind of technical analysis is of little value. There is no edge in guessing targets so far in time with TA. All we know is that price is likely to continue going up, and a lot.

But readers loves this. What matters here is Citi's clients being exposed to the bitcoin moon

I think his reply sums it up pretty well

As I said in my above post, Fitzpatrick wrote a decent article, but of course all the focus was on the moonish target he came out with some badly drawn lines on a chart.
That target is nonsense, it is more than three times the value of the S2F model (something never achieved after 2013).
Apparently had more value than all the reasoning about parallels with Gold in 70's and all the debasement reasoning.
 

[Subbir]

Citibank is more prestigious than other banks is in high demand and has a lot of advantages in Bitcoin transactions. Bitcoin is more in demand than gold. In response to this global epidemic, Citibank, like other domestic and foreign companies, is bringing innovation to its products and services and adding a touch of technology. This time Citibank has come up with a fancy and easy mobile application keeping in mind the convenience of their working capital finance customers. There will be no fear in the transaction and it will take Bitcoin to a higher price.

[Mauser]

In his opinion, the FED's policy and the aggravation of the situation with COVID-19 have created a similar market environment, which will push the quotes of the first cryptocurrency to $ 318,000 by December 2021.

Damn that are pretty nice news. I think chart analysis can give a good indication for future price levels. We have already seen a good run of bitcoins in the last few weeks, making almost 70%. If such a trend continues through out 2021 I think prices of above $100,000 could be very likely. Citibank is a leading international bank with a lot of followers on their predictions.

[BTCappu]

Investment, it’s one thing that is very important, and Bitcoin is one of the best assets anyone can be holding right now. Although I don’t really expect everyone to be holding, but those who knows about BTC and are not investing in it are going to be regretting why they didn’t ,because by the time the price gets to where it’s heading to now it will be late for them.

I am happy I was able to convince my friend to invest when the price was down, and he just called me last week when the price was increasing more than he expected and was so excited that he did invest.

[bitgolden]

Nobody denies the fact that it was a bit of a hyperbole, it was just saying people that as citibank we are now fine with bitcoin and we like it and we are not going to be against it. This is what it establishes right now.

Until citibank starts to do something with it, for example invest heavily into bitcoin, we are not going to really have any changes just because there is a report that says "bitcoin is good", we all know it is good, so this is not a news to us, this might be good for the public because they will see that even citibank is accepting that bitcoin is a good thing and some outside people who didn't know if they should trust bitcoin or not wouldn't really be involved with otherwise but may get involved now that citibank says it is good but number of those people must be very little.

[Tahamina321]

The best thing here is that the future for bitcoin is almost at hand since more and more banks are starting to adopt it in their company. As a form of promotion to cryptocurrency this report from Citibank will make another huge leap for cryptocurrency and will make a way for it to be embraced by everyone which leads to global adoption. Though there are also disadvantages to this like more hackers and scammers will come especially if the bitcoin value will really reach a hundred thousand dollars and even the government of every country will do everything to have control over it which may break the idea of decentralized currency.