Given that Bitcoin (CRYPTO: BTC) is still down 7% for the year, it's perhaps no surprise that crypto analysts continue to ratchet down their price targets for the world's most popular cryptocurrency. At the beginning of October, for example, Citigroup (NYSE: C) put out a 12-month price target for Bitcoin of just $113,000. That's a nifty 35% gain from today's price of $84,000. But it's still well under Bitcoin's all-time high of $126,000 from October 2025. And it's nowhere near the $200,000 price target being bandied about earlier this year. So that raises an interesting question: Can Bitcoin really double in value during its next bull market run? The answer might surprise you.
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