Citigroup forecasts BTC at $133K, ETH at $4.5K by year-end

Citigroup has forecast a year-end price of $133,000 for Bitcoin, CoinDesk reported, citing a recent note from the bank. The firm maintained its year-end price forecast for Ethereum (ETH) at $4,500. In the report, Citigroup explained that while heightened U.S.-China trade tensions last week triggered a cascade of leveraged long position liquidations, the market partially recovered its losses due to inflows from new, low-leverage investors and ETFs. The bank stated that it does not anticipate a slump in demand as a result. Citigroup added that the positive correlation between the cryptocurrency and stock markets is becoming more pronounced amid worsening trade tensions between the U.S. and China.