Tom Lee Says Ether Is Entering a Bitcoin-Like Supercycle Amid Criticism
Tom Lee, executive chairman of BitMine Immersion Technologies, head of research at Fundstrat Global Advisors, and CIO at Fundstrat Capital, has suggested that Ether is entering a Bitcoin-like supercycle. In a post on X, Lee referenced Bitcoin’s historical volatility, noting six drawdowns exceeding 50% and three surpassing 75% over approximately 8.5 years. He argued that this volatility reflects markets pricing in a massive future and investors should be prepared to endure significant swings.
Lee did not provide specific timing targets or valuation markers for Ether's potential rise and cautioned that progress would not be linear. His thesis suggests that crypto cycles reward patience but come with severe interim drawdowns. Looking ahead, he believes sustained on-chain activity on Ethereum and its Layer-2 solutions, alongside expanded institutional use cases, will be crucial tests for this supercycle theory.
However, critics have pushed back on Lee’s view. One notable dissent comes from The Bitcoin Therapist, a prominent bitcoin influencer, who questioned Ether’s unique utility and Ethereum’s competitive advantages beyond market penetration. Skepticism was also expressed over whether traditional finance would adopt Ethereum’s infrastructure for 24/7 trading.
Despite the criticism, Lee’s perspective adds to ongoing discussions about Ethereum’s long-term potential and the broader dynamics of crypto market cycles.
