The best-known bitcoin bull on Wall Street is getting tired of forecasting short-term prices.
For the last time this year, co-founder of Fundstrat Global Advisor Tom Lee updated his estimate for what a fair price for bitcoin should be: Between $13,800 and $14,800. The model still puts bitcoin about $10,000 above where the world's largest cryptocurrency was trading Thursday.
"Given we are so close to year-end, we are not providing any updates to near-term price objectives—read this as, we are tired of people asking us about target prices," Lee, former J.P. Morgan Chief Equity Strategist, said in a note to clients.