Jul
10
Bitcoin Bull Sticking With $25,000 Price Target for 2018
ByThis year’s cryptocurrency sell-off has done nothing to dent the optimism of Fundstrat Global Advisors head of research Thomas Lee. Already one of Wall Street’s most outspoken Bitcoin bulls, Lee is sticking with his year-end forecast of $25,000, more than 270 percent above current levels. The rosy outlook is based on Bitcoin historically trading at 2.5 times its mining cost, which will rise to $9,000 by year end, he said during an interview in Taipei. Lee has at times been overly enthusiastic: his December call for the digital currency to reach $20,000 by mid-2018 missed the mark by about $14,000…
