12 Jan Wall Street Strategist Tom Lee Says Bitcoin Could ‘Easily Double’ in 2018
Tom Lee, co-founder and Wall Street strategist at Fundstrat Global Advisors, seems confident that the market is still going through a “price discovery process”, predicting Bitcoin could “easily double” in an interview with CNBC Jan. 9.
In late November 2017, Lee was similarly bullish about the leading cryptocurrency, encouraging his clients to invest, and likely making many a small fortune as a result.
In August 2017, Lee confidently predicted highs over $6,000 by the end of 2017, but his prediction was way outperformed, as Bitcoin hit $10,000 by late November, 2017.
Basing his prediction today on steady growth in the first quarter of 2018, Lee went on to suggest that Bitcoin could well surpass the highs seen late in 2017.
“We think that by mid-2018, we’re going to be part of the way there, and that’s why we get Bitcoin to $20,000. If Bitcoin can actually rise close to that level in the first half of this year, I think in the second half of 2018, we’ll see a move bigger than that. So I think Bitcoin is still something you should own.”