Crypto Bull Tom Lee Says “The Crypto Winter Is Over” and Sets a $22,000 Target for Ethereum

Tom Lee, senior analyst at Fundstrat Global Advisors, argued at CoinDesk’s Consensus event that Ethereum (ETH) is still cheap at its current price levels. Lee stated that if Bitcoin (BTC) reaches the $250,000 level, which he sees as its fair long-term value, Ethereum could experience a significant revaluation relative to its historical ETH/BTC ratio.

In his presentation, Lee shared the ETH/BTC ratio chart, reminding the audience that the long-term average ratio is 0.04790. He stated that the peak ratio in 2021 was 0.08727. Therefore, if Bitcoin reaches $250,000:

• With an average price of approximately $12,000 over the past 8 years, Ethereum…
• With a peak rate in 2021, it could reach approximately $22,000.

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Lee also displayed a chart on the screen showing that in an “Ethereum payment rails” scenario, the price could rise to $62,500.

The analyst argued that Ethereum generally lags behind Bitcoin in cycles, but quickly recovers with a self-reinforcing movement in the later stages of the cycle. “The crypto winter is over,” said Lee, adding, “If the crypto spring also ends, we could see strong movements by the end of this year.”

Lee, pointing to Ethereum’s previous cycle performance, stated that it could reach $60,000 in 2028-2029.

*This is not investment advice.

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