NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin Chart Allegedly Linked to Citibank Projects Price at $120K

Yashu Gola
Yashu Gola
1 year ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

  • Bitcoin price could hit $120,000 in the coming years, according to a chart with alleged links to Citibank.
  • The unverified image, first shared by Altana Digital Currency’s CIO Alistair Milne, depicts Bitcoin in a 2.5 years-long bull run.
  • It also highlights the cryptocurrency’s potential to breach above $19,500 by 2021.

A Bitcoin chart with links to Citibank, a global banking giant, envisions the cryptocurrency at over $120,000.

First shared by Alistair Milne, the chief investment officer at Altana Digital Currency – a Monaco-based crypto fund, the image depicts BTC/USD in a long-term logarithmic uptrend. It highlights the cryptocurrency’s major breakout moves from late-2011 and mid-2016 as fractals to predict its future price. Excerpts:

“The setup over the last 2.5 + years in Bitcoin continues to crack closely to that over the 2.5 + years leading to the summer of 2016 before it started to move exponentially higher.”

bitcoin, cryptocurrency, btcusd, xbtusd, btcusdt, crypto

BTC/USD price uptrend as allegedly noted by Citibank. Source: Alistair Milne

The chart adds that Bitcoin is at the cusp of repeating the same bullish move as it tests $10,500-10,820 as resistance. The cryptocurrency would first target $13,850, followed by an extended move towards $19,500 by 2021.

“If $19,511 was to give away, well the chart speaks for itself,” Citibank writes [allegedly].

Mr. Milne claims that strategists at Citibank delivered the bullish Bitcoin chart to CitiFX Wire, a service that feeds Citi’s clients via a so-called “DeskTalk.”

Ideal Timing

The Citibank’s alleged involvement with Bitcoin appears at a time when the cryptocurrency is rallying on the growing demand for safe-haven assets. The BTC/USD last week surged from as low as $9,100 to top near $10,333 as of today.

bitcoin, cryptocurrency, btcusd, xbtusd, btcusdt, crypto, gold

BTC/USD and XAU/USD correlation grows higher against a falling US dollar. Source: TradingView.com

Its rally appeared alongside that of gold, a traditional hedging asset that established its all-time high today. Both it and bitcoin surged as the US dollar slipped to its two-year low – and yields on the US Treasury fell in tandem.

Bobble Lee, the founder/CEO of crypto wallet Ballet, said the newly developed correlation with rivaling hedging assets improves Bitcoin’s outlook for the rest of 2020. The analyst wrote:

“I am expecting [BTC] to march up to its all-time high of $20,000 from 2017.”

Today is special: #Gold has just surpassed $1,940, breaking its ALL-TIME HIGH record of $1,920 set exactly 9 years ago in August 2011. The rally goes on!

Without coincidence #Bitcoin has just broken $10,000! I’m expecting it to march up to its all-time high of $20,000 from 2017.

— Bobby Lee – Ballet: World's EASIEST Cold Storage! (@bobbyclee) July 27, 2020

Kyle Bass, the chief investment officer of Texas-based Hayman Capital Management, also repeated the same bullish stance, adding that “the sheer amount of money printing going on around the world” would push the prices of silver, gold, and bitcoin higher.

Bitcoin Downside Calls

As Citibank and others see BTC/USD breaking out towards an all-time high, some are still skeptic about a full-blow price rally.

Peter Schiff, the CEO & co-founder of Euro Pacific Management, highlighted Bitcoin’s ability to sustain an uptrend above $10,000 in over the last 12 months. The cryptocurrency’s last attempts to hold a six-figure region ended up in a 15 percent and 63 percent downside moves in June and February 2020, respectively.

Two of the last three times #Bitcoin rose above $10,000 in Oct. of 2019 and in Feb. of 2020 it soon fell by 38% and 63% respectively. The last time Bitcoin rose above $10,000 was in May, and it only fell by 15%. It's above $10,000 again today. How big will the next drop be?

— Peter Schiff (@PeterSchiff) July 27, 2020

Meanwhile, the possibility of BTC/USD correcting below $10,000 has also grown higher due to a gap in its CME futures chart. Historically, traders go back to fill the missing candle. As of now, that gap is at $9,925-9,665 range.

Tweet123Share196ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Станут ли 600 000 BTC точкой невозврата?

Запас биткоинов MicroStrategy составляет 597 325 биткоинов общей стоимостью почти $65 млрд, и следующий шаг может привести к тому, что...

lisachaikina 3 hours ago
Strategy

No New Bitcoin Buys: Strategy Takes A Breather After 3 Consecutive Months

Strategy (previously MicroStrategy), the Bitcoin proxy firm co-founded by Bitcoin bull Michael Saylor, has made headlines once again on Monday,...

Ronaldo Marquez 4 hours ago
Bitcoin

Bitcoin Back In ‘Retesting Phase’ After Key Level Reclaim – The Calm Before The Storm?

After achieving its highest weekly close to date, Bitcoin (BTC) is now attempting to confirm two crucial levels as support...

Rubmar Garcia 5 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

bitcoin news

2025’s Biggest Bitcoin Bull Trigger Is Still Hidden, Expert Reveals

Jake Simmons 1 hour ago
Alternatívna kryptomena k DOGE, ktorá môže zmeniť 650 $ na 65 000 $ za iba 4 mesiace

Alternatívna kryptomena k DOGE, ktorá môže zmeniť 650 $ na 65 000 $ za iba 4 mesiace

newsbtc 1 hour ago
Bitcoin price crash

50% Bitcoin Price Crash On The Horizon? Analyst Reveals $60,000 Target

Scott Matherson 2 hours ago

Premium Sponsors

Press Releases

  • SEC, Quidax Bring Together Top Banks, Asset Managers to...

    2 hours ago
  • Wzrost altcoinów zgodny z tematyką artykułu

    3 Altcoins, na które warto zwrócić uwagę w pierwszym...

    2 hours ago
  • MEXC Ventures Hosts Successful “Kickstart Your...

    2 hours ago
  • Alternativni kripto uz DOGE koji bi mogao pretvoriti 650 $...

    3 hours ago
  • Token6900

    TOKEN6900: Meme Coin Tiềm Năng Với Presale Rẻ...

    3 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.