Tom Lee: Ethereum ‘V-shaped recovery’ soon as Bitmine buys at $2,000 price

Market Outlook - Ethereum is expected to experience a "V-shaped recovery" after a 60% decline from its peak, with a similar recovery anticipated in 2026 [1] - The current price of Ethereum is around $2,000 per token, having fallen 35% in the past month amid a broader industry downturn that has erased $2 trillion in value [1] Historical Context - This marks the eighth instance since 2018 where Ethereum prices have dropped 50% or more, indicating that such declines are becoming an annual occurrence [2] - Significant investment opportunities in crypto have historically emerged following sharp declines, as seen in 2025 after market drops due to tariff concerns [2] Market Sentiment - Market sentiment around Ethereum has weakened, with major holders like Vitalik Buterin and Stani Kulechov selling off substantial amounts of their holdings, approximately $7 million and $8 million respectively [3] Company Performance - Bitmine is currently facing at least $6.6 billion in unrealized losses from its Ethereum investments, with its share price dropping about 66% to $21 over the past six months due to Ethereum's poor performance [4] - Despite the losses, Bitmine continues to invest in Ethereum, purchasing over $80 million worth of tokens recently, and aims to increase its ownership from 3.6% to 5% of the total Ethereum supply [5] Investment Predictions - Tom Lee, a prominent Ethereum advocate, has set a long-term price prediction for Ethereum at $250,000 [6] Current Market Data - Bitcoin is trading at $68,972, down 0.8% in the past 24 hours, while Ethereum is at $2,009, down 1.5% in the same timeframe [7]