TechFlow, October 15 — Despite the recent cryptocurrency market downturn and with less than three months remaining in the year, Tom Lee, Chairman of BitMine, and Arthur Hayes, co-founder of BitMEX, maintain their forecast that Ethereum will reach $10,000 by year-end, according to Cointelegraph.
On Tuesday's Bankless podcast, Lee projected Ethereum's year-end price between $10,000 and $12,000, while Hayes reiterated his $10,000 target. Based on the current price of $4,129, this would represent an increase of approximately 142%.
Lee emphasized that Ethereum has been "consolidating" for four years since its all-time high of $4,878 in 2021 and has just broken out of its range, meaning a price of $12,000 "would not be a bubble peak, but rather price discovery at a new level."
However, historical data shows Ethereum's average fourth-quarter gain is 21.36%, which would bring the year-end price close to $5,000—aligning more closely with conservative estimates from other analysts.
