Tom Lee: Bitcoin expectations cool down, more optimistic about Ethereum, reaching $9,000-$12,000 by the end of the year

Tom Lee: Bitcoin expectations cool down, more optimistic about Ethereum, reaching $9,000-$12,000 by the end of the year

In a recent podcast interview, Fundstrat founder Tom Lee shared his outlook on the crypto market trend before the end of the year. He believes that although recent sideways trading and early holders cashing out have cooled Bitcoin enthusiasm, as an asset class still underweighted, BTC has the potential to surge to $200,000 within the year.

However, compared to Bitcoin, he is more confident in Ethereum’s growth prospects. Lee pointed out that institutions, including Cathie Wood, are beginning to notice that stablecoins and tokenized gold are gradually diverting demand away from BTC, and these assets are all operating on smart contract blockchains like Ethereum. As Wall Street giants like Larry Fink push for full on-chain asset integration, expectations for ETH’s growth are being revised upward.

Tom Lee mentioned that, according to Fundstrat technical strategist Mark Newton, Ethereum could rise to $9,000-$12,000 before January 2025, implying that ETH could double in value by the end of the year.