Tom Lee, senior analyst at Fundstrat Global Advisors, argued at CoinDesk’s Consensus event that Ethereum ($ETH) is still cheap at its current price levels. Lee said that if Bitcoin ($BTC) reaches the $250,000 level, which it considers its long-term fair value, Ethereum could experience a significant revaluation compared to its historical value. $ETH/$BTC report. report.
In his presentation, Lee shared the $ETH/$BTC ratio chart, reminding the public that the long-term average ratio is 0.04790. He said the maximum ratio in 2021 was 0.08727. Therefore, if Bitcoin reaches $250,000:
- With an average price of around $12,000 over the last 8 years, Ethereum…
- With a peak rate in 2021, it could reach around $22,000.
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Lee also displayed a chart on screen showing that in an “Ethereum payment rails” scenario, the price could reach $62,500.
The analyst argued that Ethereum typically lags Bitcoin during cycles, but quickly recovers with a self-reinforcing move in the later stages of the cycle. “The crypto winter is over,” Lee said, adding: “If the crypto spring also ends, we could see strong moves by the end of this year.”
Lee, highlighting Ethereum’s previous cycle performance, said it could reach $60,000 in 2028-2029.
*This does not constitute investment advice.
