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Fundstrat analytics expert Tom Lee has doubled down on his ultra-bullish Ethereum stance, sharing a more or less specific ETH price prediction for the next month.
However, the figure he named, $5,500, might not be the top, since he expects both Bitcoin and Ethereum to make “a monster move” over the next three months.
Ethereum to reach $5,500 by mid-October, Tom Lee says
A key reason named by Tom Lee during his recent CNBC appearance is the expected Federal Reserve monetary easing. This will ensure an inflow of liquidity to the markets, Lee said; therefore, Ethereum and Bitcoin would be the primary profiteers as they could make “a monster move.” “Like, huge,” Lee specified. The Fed’s decision to lower rates by 25 basis points should be announced this week.
In a tweet published today, Lee gave an even more specific prediction as to the Ethereum price surge, saying that by the middle of October, he expects ETH to add roughly another $1,000 and hit $5,500 per coin.
With this prediction, he commented on an analysis published on X by the Bitmine company that has been accumulating Ethereum following Lee’s leadership as its chairman. The analysis says that Ethereum may drop to $4,418 or even $4,375 by week’s end. The company would take advantage of the dip and buy ETH. “ETH en route to $5,500 by mid-October,” the post predicts.
At press time, Ethereum is changing hands at $4,500.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team