The bank’s previous 12-month target was $82,000—a forecast increase of roughly 35% from the current BTC price. At the same time, the Ethereum target was raised—from $2,240 to $3,028, representing about a 12% increase from the current ~$2,706.
Among the drivers: renewed inflows into ETFs (the bank expects around $5 billion over 12 months, albeit at a slower pace), favorable macro conditions, and increased market activity.
The SEC’s actions were specifically highlighted as “temporary but significant positive,” and the U.S. Treasury’s repurchase of government bonds was also noted as a factor boosting the market.
Continue reading this article on source: coindesk.com