ETH $12K Would Not Be 'Blow Off Top,' Says Tom Lee
BitMine chair Tom Lee and BitMEX co-founder Arthur Hayes maintain their prediction that Ethereum (ETH) will reach $10,000–$12,000 by year-end, despite a recent crypto market crash and less than three months remaining. At the time of their comments, Ether traded at $4,129; a rise to $10,000 would require a gain of about 142%. Lee argues that Ethereum has consolidated since its 2021 high of $4,878 and recently broke out of its range, suggesting current movements are price discovery rather than a market blow-off. Hayes also reaffirms his $10,000 target. However, historical data shows average Q4 returns for Ether yield a more modest target, around $5,000–$6,500, matching more conservative analyst forecasts. Despite volatility, some analysts see potential for new all-time highs if current support holds and momentum builds.
