Despite recent market volatility, prominent crypto figures Tom Lee of BitMine and Arthur Hayes, co-founder of BitMEX, are doubling down on their bold prediction that Ethereum (ETH) will reach $10,000 to $12,000 before the close of the year. This ambitious forecast comes as Ether, currently trading around $4,129, would require a substantial 142% gain to hit the lower end of that target within a short timeframe.
Bullish Outlooks for Ether's Ascent
Both Lee and Hayes articulate that such a significant price surge would not signify market overheating, but rather a natural progression following a prolonged period of consolidation. According to Lee, Ethereum has been diligently "setting its foundations" since its all-time high of $4,878 in 2021, suggesting that its recent breakout from this range indicates price discovery at new, elevated levels. This perspective posits that Ether is not headed for a "blow off top," but is instead entering a new phase of growth, underpinned by fundamental developments expected in the coming year.
Historical Precedent vs. New Highs
While the $10,000 prediction is compelling, historical data presents a more conservative outlook for Ether's year-end performance. Analysis of past fourth-quarter returns reveals an average gain of 21.36% since 2016, which, if replicated, would see Ether approach the $5,000 mark. This aligns more closely with other analysts' projections, such as Tesseract CEO James Harris, who anticipates a target around $6,500. Nevertheless, some experts, like MN Capital founder Michael van de Poppe, view recent market dips as prime buying opportunities, asserting that Ether needs a higher low before it can embark on a journey toward new all-time highs.
