Wall Street strategist Tom Lee raises bitcoin forecast, now predicts 40% rise

Fundstrat raises its mid-2018 price target for bitcoin to $11,500 from $6,000, representing nearly 40 percent upside to its current level.
"In our view, this move to $5,600 cleaned up weak hands and we no longer feel caution is warranted … We recommend steady buying of Bitcoin at these levels," strategist Tom Lee writes.