* Confidence in the bottom: Tom Lee, a well-known figure in financial analysis and cryptocurrencies, stated that the price of Ethereum has "bottomed out," especially after falling below $3000.
* Reason for confidence: I believe that market conditions, along with the fundamental growth of the Ethereum network (such as recent technological developments and institutional adoption), indicate that the sharp correction phase has ended and the bullish trend is about to begin.
💰 Accelerating BitMine's accumulation of Ethereum
* Aggressive buying: BitMine Immersion Technologies, led by Lee, has significantly accelerated its pace of Ethereum (ETH) purchases.
* In a recent period, the company added more than 138,452 ETH in one week.
* Massive total holdings: BitMine's Ethereum holdings reached massive levels, exceeding 3.7 million ETH, representing nearly 3.2% to over 3% of the total circulating supply of Ethereum.
* Market value: The company's holdings in Ethereum are estimated to be worth billions of dollars (exceeding $12.85 billion in some reports).
* Ambitious target: The company aims to reach 5% of the total circulating supply of Ethereum in its holdings.
* Compared to "Saylor": Tom Lee's strategy is seen as an attempt to "mimic MicroStrategy's Michael Saylor," who followed a similar strategy of aggressively accumulating Bitcoin.
🚀 Outlook and forecasts
* Recovery: After Lee's announcements, the price of Ethereum saw a recovery, surpassing levels like $3200 and sometimes $3376, outperforming Bitcoin at times.
* Institutional support: Lee pointed to Ethereum's fundamental role in the trend of "Wall Street's tokenization" of assets, where real-world assets (RWAs) are tokenized on the network valued at over $12.1 billion.
* ETF fund flows: Positive net cash flows into US spot Ethereum ETFs have contributed to this momentum.
* Bold predictions: In more optimistic forecasts, Tom Lee indicated that the price of Ethereum could reach $62,000 under a strong bullish scenario (ETH/BTC scenario).
* The Great Market Cycle (Supercycle): I believe that Ethereum is embarking on the same "supercycle" that saw Bitcoin's price multiply more than 100 times since 2017.
Overall, the article emphasizes Tom Lee's belief that Ethereum is undergoing a recovery phase, supported by BitMine's aggressive strategy to accumulate the currency, reflecting significant institutional confidence in Ethereum's future as a major asset in the financial and decentralized system.
