Tom Lee: Predicts Ethereum will rise to $5,500 in a few weeks, with a year-end target price of $10,000 to $12,000

ChainCatcher news, August 27, BitMine's board chairman Tom Lee recently stated during an interview with Amit that he expects Ethereum to rise to $5,500 within weeks, with a year-end target price of $10,000 to $12,000.

Most of the cryptocurrency market movements usually concentrate in the fourth quarter. "So if you've risen 35% from the beginning of the year, and the final annual increase is expected to reach 200%, then most of the remaining increase will basically happen in the next few months." However, Tom Lee also expressed concerns that September may bring a seasonal adjustment in the crypto market.

But he still emphasized that "a downturn is a buying opportunity."