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Recent developments in the Bitcoin $118,959 market saw its price activity intensify during daily closings, with the cryptocurrency advancing towards the $120,000 mark. As the U.S. markets prepare to open, Bitcoin remains above $119,000, marking significant gains for altcoins. This upward trend has spurred interest regarding Citi’s forecast for Bitcoin’s price trajectory over the next 12 months, and questions arise on Dogecoin $0.256218 ’s potential movement.
Bitcoin’s 12-Month Projection
After reaching a new all-time high above $120,000, Bitcoin entered a prolonged consolidation phase. Despite attempts, it is yet to break this phase. A return to above $118,000 has thus provided altcoins with the motivation to approach resistance zones. Notably, Solana $226 has climbed past $220, and Ethereum $0.000083 has surpassed $4,400 during this period.
Citi Bank, however, is optimistic about further growth. According to recent predictions, the major bank anticipates Bitcoin reaching up to $181,000 within 12 months. Such an optimistic forecast from a 213-year-old bank is encouraging for the cryptocurrency market .
Additionally, Citigroup’s history includes acquiring a 20% stake in Akbank back in 2007. This year, Akbank launched its cryptocurrency trading service, indirectly involving Citi in Turkey’s crypto scene. Future expectations suggest a normalization of crypto services across banks and a potential multi-trillion dollar market growth.
Dogecoin and Altcoin Prospects
Dogecoin, the leading meme coin by market value, experienced a 5% price increase to $0.255. Short-term assessments have repeatedly emphasized the importance of this level. Maintaining this price could propel Dogecoin to higher peaks within days, with significant price motions accelerating upon surpassing the $0.255 mark.
An analyst named Trader Tardigrade noted that a breakthrough on the four-hour chart indicates a path toward the $0.34 resistance level.
Voices heralding the arrival of the altcoin bull market are rising once again, coupled with optimism surrounding interest rate cuts. This trend is not surprising given historical data indicating potential increases in October, as analysts like Gordon and Quinten share sentiments that the rally is underway.
An analyst who shared the above chart remarked that while history does not repeat itself, it often displays similar patterns.
