Tom Lee Predicts Ethereum Could Hit New ATH This Year
Tom Lee, co-founder of Fundstrat and Chairman of BitMine's Board of Directors, believes Ethereum ($ETH) could reach a new all-time high this year. According to him, the altcoin has consolidated within a wide price range for approximately five years and now offers stronger opportunities compared to the past.
The renowned analyst cited financial institutions' growing interest in blockchain infrastructures as a significant factor contributing to Ethereum's potential rise. He noted that the network's long history of operation, high security, wide use case, and liquidity make it an attractive choice for institutional players.
In a hypothetical scenario, Lee suggested that Ethereum could potentially surpass its previous peak of around $5,000 by 10 to 12 times, which would put the price at around $60,000. However, he emphasized that this is not a short-term or 12-month price target.