The chief funding officer (CIO) of Fundstrat Capital, Tom Lee, believes Ethereum (ETH) is without doubt one of the “largest macro trades of the subsequent decade” with the potential for enormous upside.
In a brand new interview on the Bankless YouTube channel, Lee says that as extra mainstream traders embrace it, Ethereum may expertise a parabolic rally much like what Bitcoin (BTC) did in 2017.
“…If individuals return to 2017 as a result of I believe Ethereum is having its Bitcoin 2017 second this yr, the place Wall Road is lastly getting behind ETH… Bitcoin was $1,000 within the early a part of 2017. And it wasn’t till August… then it went straight up. I imply, actually went straight up.”
In response to Lee, Ethereum is presently undervalued and will go up by as much as 290% from the present degree.
“I believe the near-term value individuals ought to take into consideration is Ethereum attending to $4,000 as a result of Ethereum must be a greater story than it was in December. And it was $4,000 in December. So we must always at the very least recuperate to that degree.
After which Ethereum is a greater story in the present day than it was a yr in the past. And a yr in the past, Ethereum was at 0.05 BTC [the price of ETH in Bitcoin… at 0.05 Bitcoin, it’s like almost $6,000. So, just like saying giving it credit for where it was a year ago, it should be $6,000.
But, of course, there is going to be a lot happening between now and year-end, including other Ethereum treasuries starting to buy Ethereum. Plus, Bitcoin goes up. So, I think by the year-end, it’s not unreasonable to think $7,000. Even $12,000 or $15,000 could happen.”
Ethereum is trading at $3,840 (0.0329 BTC) at time of writing.
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