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Tom Lee Calls for 100x Ethereum 'Supercycle' Like Bitcoin as BitMine Adds More ETH

BitMine Immersion Technologies has added over 54,000 ETH to its balance sheet, worth approximately $170 million, bringing its total holdings to more than $11.1 billion in ETH. Despite recent price drops in Ethereum, BitMine Chairman Tom Lee predicts a 'supercycle' for Ethereum, forecasting a potential 100x price increase similar to Bitcoin's growth in recent years. Lee suggests the current market may still be recovering from a significant event that saw approximately $19 billion lost in a single day. He believes that crypto price cycles may top within the next 12 to 36 months and noted the issues market makers are facing due to liquidity concerns. While BitMine's shares have fallen by 6% in a day and 35% over the month, Lee remains optimistic about the long-term value of Ethereum, conflicting with market predictions that suggest ETH might fall to $2,500 rather than rise to $4,000.

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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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