Ether is about to rally strongly says Wall Street’s Tom Lee

[wuvdoll]

We see a number of signs regarding the bull season, but it will be in vain to wait for the bull season as long as there is no hot money with new investors. I expect the Ethereum to make a good exit during the expected bull season, but may react a little later than the other crypto coins.

The signs are actually glaring technically and I won’t be surprised to start seeing the altcoin market exploding very soon.
Tom Lee is a great analyst, and it is obvious to see that the market is trying to gear up for some movement upward, but I guess at the same time, only time can really tell how things would end up in the long run. I am also looking to see Ethereum make some good run as well in this last quarter.

Hopefully even if we do not get to see a new ATH, we could possibly go test the previous one but if we are to go with the rally with respect to Tom Lee, I would say, in that case, I had just keep my fingers crossed to see how the trend takes us.

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[DevelopmentBank]

It appears our bitcoin bull turned bitcoin bagholder is presently one of the speculators who was catching all the ETH that were dumped in the market hehehe.

In any case, I am more optimistic of his predictions on bitcoin than of Ethereum. EOS is holding $4 billion in ETH. Other ICOs hold more than $100 million in ETH combined. That would be too hard for the ETH market, I reckon.



The last four out of four times it lagged its peers that badly, by two standard deviations, Lee said ether saw a “major trend reversal.”

“We believe Ethereum is about to stage a trend reversal and rally strongly,” Lee, managing partner and head of research at Fundstrat Global Advisors, said in a note to clients Thursday.

Lee meanwhile “believes sentiment is currently overly negative on ETH.” While it has underperformed its peers by two standard deviations, Lee said that’s “a sign of capitulation.”

The former J.P. Morgan Chief Equity Strategist said the cryptocurrency was “dogged” by a heavy supply being sold from EOS, which built its platform on ethereum then switched it to its own new token. Lee also highlighted questions about its blockchain technology’s road-map and “panic selling” by ICO teams.

Read in full http://www.cryptoquicknews.com/beaten-down-cryptocurrency-ether-is-about-to-rally-strongly-says-wall-streets-tom-lee/

Great post! I can't believe i got into an argument with you previously.

Anyway, this is good news for Ethereum and i echo the sentiment that ETH is about to do a trend reversal and "rally strong." All indicators point to growth and the intrinsic superiority of Ethereum's technology is always a good support for these claims. I'm buying more ETH today.

[thuyvy2207]

I think Tom Lee saw the milestone of Ethereum. ETH is trying to be more industrialized and developed as a stepping stone for price elasticity.

[utlptc]

I don't know why people are only concerned about the sellers but the buyers are also disappearing, if people can buy Ether at $1000 why are then not willing to buy it when is now $200. What do people expect in a competitive market. I think it would be difficult to see Ether again at $500

I don't think so. ETH will easily be at $500 in a bullrun. For your info, ETH has its own usages. Otherwise, ETH would be now at $5-$10. If there have no usage, how ETH came back from $170 to current position. Most of the people said at that time, ETH will be even more lowered but it was not.

[CryptoAssasin]

Is he a fortune teller or something? I'm always reading his name on crypto related news and most of them are about predictions. Part of his predictions might come true but based on what I also observed on tradingview website, those predictions of pro traders are still a prediction. It may happen or it can not, depending on the scenario or news that pops out. Tom Lee is just using his word of mouth for his own benefit and I am pretty sure that he also hold thousands of Ethereum.

[bbc.reporter]

I don't expect a reversal anytime soon, there's nothing that could trigger such thing other than a possible reversal in Bitcoin. I think Tom Lee is just trying to trigger a bit of FOMO from investors so that price shoots up, with enough momentum, there might a be a possibility that prices will spike, but it's all speculation.

i think Tom Lee is starting to say what people want to hear!

Oh, absolutely. I think he already knows he's a crypto influencer and well-known Bitcoin bull, he knows that he could influence a lot of people by saying whatever they wanna hear, whether it is correct or not what he says is a different story, but the guy knows what he's doing-

He might also be holding a big bag of Ethereum. I reckon he might have bought during the time when EOS and some of the other ICOs were dumping hehehe.

If that was really the scenario, then who was scammed in that storyline?

[tdeannova]

this statement from Tom Lee could increase the public's confidence to return to ethereum and if successful it seems like a new pump will begin. but don't be too happy and prepare anticipation so you don't get stuck.

[h0lybyte]

I believe Tom Lee has analysed the market correctly because he has speculated situations perfectly in past as well . 
It is obvious truth that when a coin gets down to its extreme low level, there remains only one way that is to surge up

[batang_bitcoin]

this statement from Tom Lee could increase the public's confidence to return to ethereum and if successful it seems like a new pump will begin. but don't be too happy and prepare anticipation so you don't get stuck.

Coming from someone who has been bullish with bitcoin and ethereum would really make sense to increase and boost people's confidence by investing to this coin. Don't be overhype with the current encouraging words coming from him and other bullish people to specific coins. But at least we've got some ally in the market instead of having those negative words from popular rich people in the world.

[omonuyak]

It appears our bitcoin bull turned bitcoin bagholder is presently one of the speculators who was catching all the ETH that were dumped in the market hehehe.

In any case, I am more optimistic of his predictions on bitcoin than of Ethereum. EOS is holding $4 billion in ETH. Other ICOs hold more than $100 million in ETH combined. That would be too hard for the ETH market, I reckon.



The last four out of four times it lagged its peers that badly, by two standard deviations, Lee said ether saw a “major trend reversal.”

“We believe Ethereum is about to stage a trend reversal and rally strongly,” Lee, managing partner and head of research at Fundstrat Global Advisors, said in a note to clients Thursday.

Lee meanwhile “believes sentiment is currently overly negative on ETH.” While it has underperformed its peers by two standard deviations, Lee said that’s “a sign of capitulation.”

The former J.P. Morgan Chief Equity Strategist said the cryptocurrency was “dogged” by a heavy supply being sold from EOS, which built its platform on ethereum then switched it to its own new token. Lee also highlighted questions about its blockchain technology’s road-map and “panic selling” by ICO teams.

Read in full http://www.cryptoquicknews.com/beaten-down-cryptocurrency-ether-is-about-to-rally-strongly-says-wall-streets-tom-lee/

I could like to know when this rally will be over and when another bull run will commence.  Lee has been positive on cryptocurrencies but it seemed the strong bearish market has affected his bullish disposition.  However,  I will take this information serious as his words are highly valuable in this market.

[badaovodich]

Ethereum is an intelligent contract creation in its ability to make many ICO projects based on but it owns not to rely on this characteristic which will make it an cryptocurrency or a good investment vehicle. .

[bbc.reporter]

I reckon there are more speculators in bitcointalk that are bagholding Ethereum than speculators who are bagholding bitcoin hehehe. You can already see it in their replies.

[Daydream 61]

I hope Lee's right. But he also wrote that Bitcoin will rise to $25000. we just have to wait and see. because small fish like us can't influence the market. But I'm not as optimistic as Lee. But I also hope that the prices will rise again. the prices can also rise lansam. As long as they rise at all

[jeffthebaker]

@jeffthebaker. That is a good interview, I hope you make more on developers. But you know us in this forum, we like to poke fun on analysts and the newsmakers hehehe. I know Tom Lee is a good analyst but do you agree on his $20k prediction by end of 2018 for bitcoin?

Also, I reckon no one read my comment about this news. EOS is surpressing Ethereum on the market but many of the replies are positive.

Not exactly a "crypto developer" but I had one with Steve Wozniak from the convention as well: https://nulltx.com/exclusive-interview-apple-co-founder-steve-wozniak-talks-blockchain-reveals-upcoming-involvement-with-crypto-startup/

I think it's pretty evident that much of Ethereum's run up throughout 2017 was from people purchasing ETH to buy ICOs... Of course, this goes both ways, and EOS and others likely are creating a strong negative sell pressure on ETH. However, I do not think this is sufficient in keeping Ethereum down as it's still the #1 platform being used by mainstream corporations and Fortune 500s. Is it the best in terms of performance? Not necessarily. But similar to how Bitcoin is King of crypto 1.0, Ethereum is king of the 2.0 generation.

I personally see the $20k prediction as quite optimistic with just one quarter of the year remaining. However $20k will be shattered in the next run up- which will not take a very long period of time from start to finish. If we see new money entering by start of December I see this happening. With NSADAQ and Bakkt coming to fruition by end of year potentially, this is possible. Lee seems to put a pretty strong emphasis on the role of an ETF or other means for institutions to buy Bitcoin.

Is Ethereum really being used by mainstream corporations and Fortune 500 companies? I reckon if they are using it, it might only be experimental and they might have stopped experimenting in it by now hehehe.

In any case, if you are referring to the Ethereum Enterprise Alliance, I reckon they are building their own platform based on Ethereum's code?

Yes, they are. Whether building directly on Ethereum themselves or leveraging protocols in development or ready for use, it's happening and continuing to increase. Major League Baseball has their own Ethereum game. Walmart, Coca Cola, Mastercard, and many others are using Endor Protocol on the ETH blockchain. You can go down the list with many of the production-ready or privately funded ETH projects and you'll find huge names attached.

[Indrawan77]

I believe that eth is a great investment, but with onlybsaying good things about eth, the price won't go up , we dont need any expert to speculate, we need more action to push the price go up, we need the investors to invest in eth, it will be great if the people can convince investors to invest rather than onky speculate

[Mame89]

I believe that eth is a great investment, but with onlybsaying good things about eth, the price won't go up , we dont need any expert to speculate, we need more action to push the price go up, we need the investors to invest in eth, it will be great if the people can convince investors to invest rather than onky speculate

It is true ... if you only speculate without action then what happens is that growth will be very slow and to raise eth prices I think it will take a long time because now people trust in cryptocurrency is being lost which we have to do maybe how to make someone more trust in investment digital currency and direct it to Eth so that many people buy Eth for investment.