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Tom Lee Calls for 100x Ethereum 'Supercycle'

BitMine Immersion Technologies added over 54,000 ETH worth approximately $170 million to its treasury, now holding more than $11.1 billion in Ethereum, equating to nearly 3% of the total circulating supply. Despite the ETH price dropping by over 11% recently, BitMine's Chairman Tom Lee predicts a potential 'supercycle' for Ethereum, suggesting it could see a 100x increase similar to Bitcoin's price trajectory since 2017. He argues that the current market may be experiencing a downturn due to excessive liquidity being withdrawn, equating to quantitative tightening in traditional finance. Market predictions on Ethereum’s price remain mixed, with opinions nearly evenly split on its potential movement between $2,500 and $4,000. Lee's confidence in a forthcoming price surge comes amid a broader discussion about the cryptocurrency market cycle, projecting a possible cycle peak within the next 12 to 36 months. As BitMine maintains its Ethereum accumulation strategy, this positions the firm as a significant player in the Ethereum landscape, rivaled only by prominent figures like Michael Saylor with Bitcoin.

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Bitcoin Price News: Sell-Off Likely 'Complete', Year-End Rally in Play

Bitcoin's recent sell-off may be nearing its end, according to Geoffrey Kendrick of Standard Chartered. He argues that this pullback, which has witnessed a nearly 30% decrease since the cryptocurrency's all-time high in October, follows a familiar pattern seen over the past couple of years. Kendrick

Bitcoin (BTC) Price News: Sell-Off Likely 'Complete', Year-End Rally in Play, Analyst Says

Bitcoin's recent sell-off, which has seen nearly a 30% drop from its all-time high above $126,000, may be reaching its conclusion, according to Geoffrey Kendrick, head of digital asset research at Standard Chartered. Kendrick views this decline as part of a recurring pattern linked to the launch

Bitcoin Price News: Sell-Off Likely 'Complete', Year-End Rally in Play

According to Geoffrey Kendrick, head of digital asset research at Standard Chartered, Bitcoin's recent decline may be concluding, marking the third significant 30% correction since the launch of spot Bitcoin ETFs in the U.S. The cryptocurrency dropped below $90,000, nearly 30% down from its all-time high

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