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One Wall Street analyst just doubled his bitcoin forecast to $11,500





Tom Lee

  • Tom Lee of Fundstrat has nearly doubled his forecast for bitcoin, calling for the cryptocurrency to hit $11,500 by mid-2018.
  • Lee says that a recent dip in bitcoin’s price wiped out weak, low-conviction holdings, clearing the path for further gains.

Well that sure escalated quickly.

Tom Lee, the managing partner and head of research at Fundstrat Global Advisors, has almost doubled his forecast for bitcoin. He now expects the scorching-hot cryptocurrency to hit $11,500 by mid-2018, up from his previous estimate of $6,000 released in August.

The adjustment comes just a few weeks after Lee turned neutral on bitcoin, read more >>>

Source:: BusinessInsider.Com

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