Summary
- Tom Lee, chairman of BitMine, said Ethereum could reach $50,000 as its ultimate target in this bull run.
- Lee said Ethereum has traded in a similar price range over the past five years, and that the longer the period of consolidation, the greater the eventual upside.
- He said broader tokenization of traditional financial assets such as stocks and bonds would increase demand for Ethereum's infrastructure, and projected the token could climb past $5,000 by year-end.
Forecast Trend Report by Period
Ethereum could climb as high as $50,000, according to Tom Lee, chairman of BitMine.
In a Token2049 video released on Oct. 10, Lee said during a conversation with Ondo Finance that Ethereum has traded within a similar range over the past five years. The longer the price stays stagnant, the larger the eventual gain can be, he said. In this bull run, Ethereum's ultimate target is $50,000, he added.
Lee also cited growth in the tokenization market, which has drawn renewed attention recently, as a key driver for Ethereum. As more traditional financial assets such as stocks and bonds are tokenized, Ethereum's role as infrastructure will grow, he said. He also projected that Ethereum could rise past $5,000 by the end of this year.
Uk Jin
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