Wall Street strategist Tom Lee raises bitcoin forecast, now predicts 40% rise

Wall Street strategist Tom Lee raises bitcoin forecast, now predicts 40% rise

6 years ago
Anonymous $ZOEEBQ1zf0

https://www.cnbc.com/2017/11/22/wall-street-strategist-tom-lee-raises-bitcoin-forecast-now-predicts-40-percent-rise.html

After turning cautious on bitcoin earlier this month, Fundstrat's Tom Lee told clients Wednesday to jump back into the digital currency.

"A few weeks ago, we turned short-term neutral on bitcoin as the price level then (~$7400) exceeded our estimate of fair value," Lee wrote in the report. "Last week, Bitcoin fell to $5,600 and since then rebounded. In our view, this move to $5,600 cleaned up weak hands and we no longer feel caution is warranted … We recommend steady buying of Bitcoin at these levels."