Bitmine Chairman: Based on fundamental analysis, the current ETH price should be $15,000

ChainCatcher news, according to CoinDesk, Tom Lee, co-founder of Fundstrat and chairman of the Ethereum treasury company Bitmine Immersion (BMNR), stated that the cryptocurrency market is likely to rebound. Some investors do not believe this rebound is real, and this is precisely why the crypto market may rise, as "since 2020, investors have underestimated every recovery, and this time will be no exception."

Tom Lee further stated that the traditional financial industry, led by Wall Street, is steadily and quietly increasing its investment in cryptocurrencies. ETH is benefiting from Wall Street's push for tokenization, and Ethereum has never experienced a downtime, which is crucial for banks. If estimated based on fundamentals, ETH should be valued at $15,000 (currently priced at $3,700). He believes the real issue is that institutional investors' acceptance of ETH is underestimated, and it is currently only in the mid-stage of Ethereum's development.