Crypto Bull Market Signs Emerge as Tom Lee Predicts Largest Cycle Yet

Tom Lee, chair of Bitmine Immersion Technologies, and Changpeng Zhao, founder of Binance, are both signaling excitement about a potential crypto bull run. Zhao posted an AI-generated meme-style image suggesting investors may be caught off guard as prices rise, to which Lee responded with 'Agree, do you own enough crypto?'

Lee has been repeating his long-term price targets for Bitcoin and Ethereum, predicting $150,000 for the former and $60,000 for the latter within a couple of years. He believes this bull market could be the largest yet, driven by tokenization, AI, and a friendlier policy environment towards crypto.

Bitmine has been buying up Ethereum every week since June last year, adding to its treasury holdings which now exceed 6 million coins worth over $16 billion at current prices. Lee pointed to the performance of crypto-related stocks in the third quarter as proof that a bull market is already underway.