AI translated#Cryptocurrency Market Forecasts#Ethereum#Opinions#Tom Lee

Ethereum is entering a ‘supercycle’ similar to Bitcoin’s 100x growth since 2017, says BitMine’s Tom Lee.

17.11.2025

The second-largest cryptocurrency by market capitalization is entering a ‘supercycle’ phase similar to the one that brought Bitcoin a hundredfold increase since 2017, according to BitMine’s head, Tom Lee.

In 2017, the analyst recommended Fundstrat clients buy digital gold at around $1,000. Despite periodic declines of up to 75% in subsequent years, the asset has grown 100-fold.

At the start of 2025, Ethereum lagged behind Bitcoin, which repeatedly hit new price highs. In August, Ether reached an ATH of $4,946, while the leading cryptocurrency rose to $126,000 by October.

Since then, the leading cryptocurrency has fallen 25% from its peak, and Ethereum by 35%. According to Lee, such volatility is driven by investor doubts, who ‘underestimate the scale of the future.’

‘To profit from this 100-fold supercycle, one had to endure existential moments and continue to hold the asset,’ he added.

Lee believes the market downturn is linked to issues with one or more major market makers.

According to him, market ‘sharks’ are attempting to trigger a wave of liquidations to crash Bitcoin’s price.

Lee is confident this is a temporary phenomenon. It will not alter the ‘Ethereum supercycle,’ within which Wall Street is building blockchain solutions, he added.

The analyst advised traders to avoid using leverage to prevent liquidation.

The head of BitMine also reaffirmed his forecast: Bitcoin’s price will reach $150,000, and Ethereum $7,000 by the end of 2025.

In his view, this is supported by ‘strong liquidity trends and growing institutional adoption.’

CryptoQuant analyst Burak Kesmeci reported that Ethereum’s price is 8% away from the ‘accumulation realized price.’ This is the average rate at which long-term holders purchased the asset.

At the time of writing, Ethereum is trading at ~$3,200. The accumulation realized price is $2,895.

Kesmeci noted that the price of the second-largest cryptocurrency by market cap has dipped below this zone only once—during the ‘Trump tariff crisis’ in April 2025. At that time, the Global Economic Policy Uncertainty Index (GEPU) reached 629 points, 50% higher than the peak during the COVID-19 pandemic.

Despite the panic, in 2025, around 17 million ETH were added to accumulation addresses. The total balance of such wallets grew from 10 million to 27 million ETH. According to the analyst, this indicates that long-term investors preferred accumulation over impulsive selling.

If Ethereum’s price falls another 8%, it will reach the average purchase level of accumulators. Historically, this zone has been a good opportunity for long-term investments. The analyst believes that even if Ether’s price briefly dips below $2,900, it will not stay there.

Earlier in November, analyst Michaël van de Poppe stated that the altcoin needs to break through the $3,800-$3,900 zone to reach new highs.

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