Ethereum (ETH) is embarking on the same path as Bitcoin, which has seen its price increase by more than 100 times since 2017, according to Tom Lee, the executive chairman of BitMine.
Lee stated in a post on the X platform on Sunday that when he first recommended Bitcoin (BTC) to clients of his research firm Fundstrat in 2017, the price of BTC was around $1,000, after which it experienced several price drops of up to 75% over the years.
However, Bitcoin has now "increased 100 times since we first recommended it," Lee said. "We believe ETH is starting the same super cycle."
In the first few months of 2025, as Bitcoin broke through new price highs, ETH has lagged behind BTC. ETH reached an all-time high of $4,946 in August, while Bitcoin continued to climb to over $126,000 in October.
As of Monday, Bitcoin has dropped 25% from its peak, and Ethereum has fallen more than 35% from its high, leading to a market contraction. Lee noted that this volatility is due to skepticism and "foreshadows a huge future."
"To profit from that 100 times super cycle, one must endure the survival moment to hold (HODL)," he added.
CryptoQuant writer Burak Kesmeci stated in a report on Sunday that Ethereum is currently trading at around $3,150, just about $200 away from the average cost basis of long-term accumulators, or "those who have been 'patiently accumulating'."
He added that ETH has only fallen below this level once in April, when U.S. President Donald Trump's global tariffs took effect.
Kesmeci noted that approximately 17 million ETH have flowed into accumulation addresses this year, with the total balance held in long-term wallets increasing from 10 million ETH at the beginning of the year to 27 million ETH.
He stated that if ETH falls below $2,900 to the cost basis of these long-term holders, it is "unlikely to stay there for long," as that price has historically been "one of the strongest long-term accumulation opportunities."
Ethereum had dropped to a 24-hour low of $3,023 but has slightly rebounded, trading flat at $3,185 over the past day.
Related: Cryptocurrency sees a major drop over the weekend, with Bitcoin (BTC) briefly erasing its gains for 2025.
Original article: “Tom Lee: Ethereum (ETH) will enter the 'same super cycle' as Bitcoin (BTC)”
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