- Citibank made a bullish BTC prediction 2021, saying that BTC will reach $318,000 in December 2021.
- The leaked report calls Bitcoin as the 21st-century gold.
- Citibank Managing Director Tom Fitzpatrick made this prediction.
Citibank Managing Director Tom Fitzpatrick performed the technical analysis which got leaked on Twitter. In the report entitled “Bitcoin: 21st Century Gold”, Fitzpatrick said that the entire existence of Bitcoin was known to have “unthinkable rallies followed by painful corrections”.
Accordingly, Alex (Twitter handle @classicmacro) leaked the Citibank BTC prediction 2021, saying that the banking giant is targeting “moon”.
Citibank bitcoin technical analysis.
Target: Moon. pic.twitter.com/prB1YjVNhX
— Alex (@classicmacro) November 13, 2020
From the leaked report, Fitzpatrick argued that the timeframes of BTC’s rallies are becoming longer. He also said that BTC’s price action is becoming much more symmetrical in the last 7 years. Moreover, he said that this could potentially peak in December 2021, wherein BTC would reach $318,000.
With this in mind, Fitzpatrick added,
“Improbable though that seems it would only be a low to high rally of 102 times (the weakest rally so far in percentage terms) at a point where the arguments in favor of Bitcoin could well be at their most persuasive ever.”
In addition, Alex said in a separate tweet that “all we know is that the price is likely to continue going up, and a lot”.
“Readers love this,” Alex specifically said. “What matters here is Citi’s clients being exposed to the bitcoin moon.”