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Speculation on this cryptocurrency heats up as Citi speaks in a private meeting
New speculations are swirling inside cryptocurrency market regarding Citi (NYSE: C) potential involvement with the Hedera (HBAR) Government Council.
This speculation gained momentum following a private meeting reportedly held by Hedera in New York. Discussions focused on tokenization real world resources and other related topics, such as cryptocurrency trading CrediBull analyst reported in a X (formerly Twitter) May 11 post.
According to the analyst, speculation intensified when a now-deleted image surfaced, initially shared by the Hedera account, showing a slide titled “Building the Future of Finance on Hedera.” Citigroup’s head of strategy and partnerships for digital assets was nestled between two well-known members of Hedera’s board of directors.
The immediate deletion of the image has many wondering if Citi could be the next addition to Hedera’s board of directors. While neither party has officially confirmed these rumors, the possibility of Citi’s involvement could have a significant impact on Hedera and the overall cryptocurrency market.
Photo of a reported meeting involving Hedera and Citi. Source: CrediBULL
Indeed, Hedera’s move to delete the image could be compared to a possible accidental leak, as Citi’s participation on Hedera’s Board of Directors, or at the very least, its collaboration on an undisclosed use case , seems plausible.
HBAR Price Prediction
In this context of waiting, TO THEGuided price forecasting tool CoinCodex offered a glimpse into HBAR’s potential trajectory. According to the tool, HBAR is ready for a bullish will execute over the next few months as it gets closer to breaking a key resistence level, with the $0.5 threshold as the next possible target.
CoinCodex predicts that HBAR could rise to $0.14 within the next month, signaling a notable increase in value. Looking further ahead, the forecast extends to a year, predicting a substantial increase to $0.43 per token.
Key price levels to watch
At the same time, crypto analyst Egrag Crypto, in an article send on May 8, highlighted three significant price levels for HBAR as potential opportunities: the previous all-time high of $0.63, the range between $1 and $1.30, and the broader range between $2 and $3.
In particular, the analyst urged investors remain vigilant amid market changes and emphasized the need for HBAR investors to prepare for volatility.
It is worth noting that HBAR has recently experienced bullish sentiment, diverging from the overall market trajectory. This increase in the token’s price followed speculation regarding the potential tokenization of BlackRock (NYSE: BLK) US Treasury Fund on the Hedera blockchain. However, the token recouped some gains as investors realized BlackRock’s indirect involvement.
Overall, the HBAR community continues to rely on the contribution of institutional investors like Citi to take the token to new heights, as well as the overall trajectory of the market.
Meanwhile, at the time of writing, HBAR was valued at $0.108, showing daily gains of nearly 2%. The token seems poised to rise towards $0.15, although the bullish momentum needs to clear the $0.12 resistance level.
Disclaimer: The content of this site should not be considered investment advice. Investing is speculative. When you invest, your capital is at risk.