Bitcoin forecast ratcheted up to $6,000 by lee as optimism grows

New York: Thomas J. Lee, one of the most bearish stock strategists on Wall Street, is feeling a lot more optimistic about the prospects for bitcoin.

The cryptocurrency could reach $6,000 (Dh22,020) by the middle of 2018, according to a note Friday from Lee, the Fundstrat Global Advisors co-founder and former chief US equity strategist at JPMorgan Chase & Co. He said user accounts are likely to rise 50 per cent and usage per account to climb 30 per cent.