Tom Lee Sees Crypto Entering Biggest Bull Cycle Ever

Tom Lee, chairman of BitMine Immersion Technologies, believes that cryptocurrency is entering its biggest bull cycle ever. He pointed to Bitcoin trading above its 200-day moving average, a signal that has preceded eight of the past nine bull markets over 12 years.

Lee also cited steady institutional inflows into Bitcoin products throughout September and noted that major banks like BlackRock and JPMorgan Chase are now tokenizing assets, adding further legitimacy to the sector.

The market is expected to receive a boost from a generational wealth shift: Americans in their twenties will inherit roughly $700 billion this year, up sharply from about $100 billion in 2019-2020. Lee believes that similar patterns to Ethereum's past rallies could repeat as new capital enters the market.