Tom Lee Predicts Ethereum Will Smash All-Time Highs by Year-End

Tom Lee, chairman of BitMine, believes Ethereum can reach new all-time highs by the end of this year. He stated that a price increase of about 84% from $2,693 to its current record of $4,954 is 'absolutely' possible.

In an interview with Coinage host Zack Guzman, Lee mentioned that he thinks $3,000 in the near term makes sense and that well above $5,000 is also possible. Furthermore, he predicts a 10- to 12-fold increase above prior highs of about $5,000 in a couple of years, which would take Ethereum's price to $60,000.

Lee attributed his prediction to the prolonged period of stagnation in Ethereum's price, stating that it has been rangebound for five years. He also noted that the recent rally from $1,500 to $2,800 was met with 'almost complete silence.'