According to PANews, Tom Lee, co-founder of Fundstrat and chairman of Bitmine Immersion, expressed optimism about the cryptocurrency market's potential for a rebound. Despite skepticism from some investors regarding the authenticity of this recovery, Lee believes that such doubt could drive the market higher. He noted that since 2020, investors have consistently underestimated each market recovery, and this time is expected to be no different.
Lee highlighted the increasing investment in cryptocurrencies by traditional financial sectors, led by Wall Street. Ethereum (ETH) is benefiting from Wall Street's push towards tokenization, with its uninterrupted operation being crucial for banks. Based on fundamental analysis, Lee estimates that ETH should be valued at $15,000, compared to its current price of $3,700. He emphasized that the real issue lies in the underestimated acceptance of ETH by institutional investors, suggesting that Ethereum is currently in the mid-stage of its development.