Investing.com - Wall Street's biggest cryptocurrency bull is at it again.
With cryptocurrencies still in recovery mode from their sharp selloff a month ago, Fundstrat Global Advisors' Tom Lee is sticking to his price targets for bitcoin.
In a new report, Lee reiterated his forecasts of $20,000 by mid-year and $25,000 by year-end.
Bitcoin hit a high of more than $19,000 in mid-December and a low of $6,000 in early February. It's traded in a range of $9,000-$12,000 recently.
Lee's convinced the recent selloff was overdone and that cryptocurrencies will recover as they have in the past.
He also believes that positive crypto-related developments in the corporate world will boost digital currencies, even if Wall Street isn't ready to accept them yet.