In the cryptocurrency mining company BitMine Immersion Technologies, there are serious expectations for the price of Ethereum to rise to $60,000. $ETH

Several research firms believe that the price of ETH will reach $60,000. Currently, the coin is worth $3,800, — wrote the employees of Bitmain.

If this bordering-on-crazy forecast turns out to be correct, then buying Ethereum at the current price of $3,793 could multiply capital almost 16 times.

The publication from BitMine does not specify the timeframe for ETH to rise to $60,000. However, in the video titled 'Alchemy 5%', the head of the company, Tom Lee, explained why the cryptocurrency is considered incredibly promising. According to him, the increase in ETH price will be due to:

The growth in the number of stablecoins and tokenized assets issued on the Ethereum network;

The increasing popularity of DeFi and programmable financial instruments;

The gradual reduction in the amount of ETH in circulation.

Tom Lee

Ethereum will be capable of making a giant leap forward because, as Tom believes, it represents 'digital oil', serving as fuel for the engine of progress in the blockchain industry. Honestly, it is hard to truly believe.