Tom Lee Says Crypto Winter Is Ending, Sees Ether at $60,000

JOON HYOUNG LEE

Summary

Tom Lee, chairman of BitMine, said the crypto bear market that has continued since the second half of last year is entering its final stage.
Lee said tokenization and the spread of artificial intelligence (AI) agents will lift demand for the Ethereum network, pushing the price toward $60,000.
BitMine said in an SEC filing that it recorded a net loss of $3.82 billion in the first quarter, of which about $3.78 billion was an unrealized loss on its Ether holdings.

Forecast Trend Report by Period

*Tom Lee, chairman of BitMine, speaks at Paris Blockchain Week 2026 in Paris, France, on April 15.*

Tom Lee, chairman of BitMine, said the cryptocurrency bear market that has persisted since the second half of last year is entering its final stage.

Cointelegraph reported April 15 that Lee made the remarks at Paris Blockchain Week 2026 in Paris, France. He said the recent weakness in crypto markets is nearing an end. Lee described the downturn as a "mini crypto winter" and said stock markets have already passed their bottom in the aftermath of the Iran war.

Lee also said Ether is poised to break out of its recent trading range. In his view, tokenization and the spread of artificial intelligence agents will boost demand for the Ethereum network.

"Ethereum is on the path to $60,000," Lee said. He put Ether's fair value at $62,000 over the next several years. The forecast is based on his view that, over the long term, Ether's value could rise to about one-quarter of Bitcoin's.

Separately, BitMine said in a filing with the U.S. Securities and Exchange Commission on April 14 that it posted a net loss of $3.82 billion in the first quarter. About $3.78 billion of the loss came from markdowns on its Ether holdings.

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