The first major wall street strategist to cover bitcoin, Fundstrat’s Tom Lee believes that bitcoin will top $25,000 by the end of 2018.
In a report release by Lee, the strategist notes that bitcoin could hit the $125,000 mark by 2022 despite the currency’s recent slide.
“We expect bitcoin’s major low to be $9,000, and we would be aggressive buyers around that level,” Lee said in the report. “We view this $9,000 as the biggest buying opportunity in 2018.”
While bitcoin and altcoin markets have taken a huge hit thus far in 2018, it’s important to keep in mind that the bitcoin price is still trading higher by approximately 800% since January 2017.