1 Popular Cryptocurrency to Buy Before Its Next Massive Rally, According to 1 Wall Street Bull
One bullish scenario calls for Ethereum to hit a price of $250,000. But just how likely is that?
Overview
Ethereum (CRYPTO: ETH) may be down more than 60% from its all-time high from last summer, but that's not stopping forward-looking crypto investors from speculating on what might happen during the next bull market cycle.
Tom Lee, co-founder of Wall Street research firm Fundstrat and chairman of Bitmine Immersion Technologies (NYSE: BMNR), has emerged as one of the loudest voices predicting massive gains in the price of Ethereum. In fact, he thinks Ethereum could eventually hit a price of $250,000. Given its current price of just $2,000, that would represent a stunning 125x return on investment.
Details
The good news, if you're thinking about investing in Ethereum, is that there have been some recent signs of life. In July, for example, Ethereum outperformed both the Nasdaq-100 and Bitcoin (CRYPTO: BTC). And it did so handily. Ethereum beat tech stocks by 25 percentage points, and Bitcoin by 11 percentage points. That's something Lee has been quick to point out, suggesting it could be foreshadowing a massive bull market rally for Ethereum.
Source
Originally published at www.fool.com.