The U.S. stock market extended its rally Friday after better than expected jobs data suggested that the impact of a partial government shutdown on the economy was largely overblown. Dow Surges Past Major Milestone All of Wall Street’s major indexes traded higher on Friday, reflecting a mostly upbeat pre-market for U.S. stock futures. The Dow Jones Industrial Average rose 166 points, or 0.7%, to 25,166.17. Shares of Exxon Mobil Corp (XOM) and Visa Inc. (V) led the Dow blue chips higher. The broad S&P 500 Index advanced 0.3% to 2,712.55, with seven of 11 primary sectors contributing to the gains.
The past 12 months haven’t been easy for any bitcoin bull, but perhaps no cryptocurrency proponent has had a worse time than Tom Lee, the Wall Street strategist who predicted that the bitcoin price would hit $ 25,000 by the end of 2018 and must now reckon with the result of that forecast every time he goes back on television. Tom Lee Sticks by Bitcoin Price Forecast But Drops Timeline The Fundstrat Global Advisors founder’s latest dish of humble pie was served up courtesy of Stuart Varney, who interviewed Lee last Friday for the Fox Business Network. Varney asked Lee whether
Tom Lee, the co-founder of market strategy firm Fundstrat Global and serial CNBC crypto contributor, has cut his end of year price prediction for Bitcoin (BTC) from $ 25,000 to $ 15,000. In a note to investors on Friday, Lee provided guidance on what Fundstrat still sees as Bitcoin’s fair value based on the current energy and device costs associated with […]
Regular bank ATMs have long been a target for criminals but now bad actors are turning their sights on Bitcoin ATMs as cryptocurrencies gain acceptance. According to Trend Micro security researchers, a malware targeting Bitcoin ATMs has been discovered in the underground markets. The Bitcoin ATM malware which is being sold at a price of
The post Malware Targeting Bitcoin ATMs Goes on Sale for $ 25,000 appeared first on CCN
“I want to be clear, Bitcoin (BTC) is going to $ 25,000 by year end” said Tom Lee of Fundstrat last month. This statement did not appear very convincing back then as Bitcoin (BTC) was in a tough spot, struggling to stay above the 21 EMA. This month though, as the monthly chart above for BTC/USD shows, the monthly candle strongly bounced up from the 21 EMA and is now about to close above the 21 EMA.
Tom Lee has cut his year-end prediction for Bitcoin by 20 percent — but still thinks the first and foremost cryptocurrency will top $ 20,000 per coin in 2018.
‘Or Something Like That’
Tom Lee had previously held strong on his prediction that Bitcoin 00 would reach a new all-time high of $ 25,000 by the end of 2018. Now, the only Wall Street strategist to make concrete Bitcoin predictions is scaling back his expectations — but only slightly.
The co-founder of Fundstrat Global Advisor told CNBC’s “Squawk Box”: