Deceitful world of Tom Lee

[Oshosondy]

Fundstrat co-founder Tom Lee shared a "generational play" thesis for Ethereum that predicts 3,000% upside in Ether (ETH) price to $60,000.

Key takeaways:

ETH is testing a key long-term support trend line that preceded 5,000% gains in the past.
Tom Lee amplified the fractal setup, which projects ETH toward $60,000 by 2030.

Is that an analyst to be believed or just a made nonsense? Why should Tom Lee also spread this unrealistic speculation.

If ethereum gets to $60000, that is more than $7 trillion dollar marketcap. And it will get there by 2030? Absolutely nonsense.

We even don not know how ethereum will perform later because it also has competitors. That was how some people were predicting $30000 in the last bull market but ethereum did not went up to $5000.

[OmegaStarScream]

His company BitMine is one of the largest (if not THE largest) holders of Ethereum. It make perfect sense that he would make such statements, and he probably believes it too, otherwise he wouldn't be investing heavily on it as he is. Personally though, I don't see it happening, just like I don't see the 1M per Bitcoin by 2030.

[Alpha Marine]

His company BitMine is one of the largest (if not THE largest) holders of Ethereum. It make perfect sense that he would make such statements, and he probably believes it too, otherwise he wouldn't be investing heavily on it as he is.

Even he doesn't believe it. He knows exactly what he's doing. He wants to create that belief in people's minds so tha they would buy the coin with hopes that he is right or at the least, the coin would be significantly profitable. Predictions like this have been the new trend of people and companies who hold a lot of Bitcoin and other crypto. They are trying to create a FOMO frenzy among people, so that the demand for the coins would increase and they will make profits from their investments.
I've seen "Solana to $3k", "Bitcoin to $800k+", even "XRP to $300", and now it's ETH at $60k by 2030. They know exactly what they're doing.

Personally though, I don't see it happening, just like I don't see the 1M per Bitcoin by 2030.

I'm bullish when it comes to bitcoin, but realistically, I don't even see Bitcoin at $1 million in the two halving. It's not going to be just increasing, there are certainly going to be dips and bear markets like the one we are in now.

[FinneysTrueVision]

Tom Lee is what you call a huckster. All the billions of dollars his company spent buying up 4% of the ETH supply barely helped it get past its previous all time high and then it retraced and has been stagnant since.

No reasonable person should believe any of Tom Lee’s predictions because they are not even remotely realistic. He might show some charts and use technical language to sound somewhat convincing when he’s on TV, but this is all a more sophisticated version of the shitcoin shilling you see from crypto influencers on X and YouTube.

[Accardo]

That could be before bitmine staked additional 162,088 ETH today, he's never made a single prediction about eth right, what happened to his 7k-9k prediction before January ends? He's doing business and wants more people on the network, knowing that a negative trend on the network would cost his company a huge amount of money in losses.

[Kelward]

His company BitMine is one of the largest (if not THE largest) holders of Ethereum. It make perfect sense that he would make such statements, and he probably believes it too, otherwise he wouldn't be investing heavily on it as he is. Personally though, I don't see it happening, just like I don't see the 1M per Bitcoin by 2030.

Any smart investors would know that Tom Lee, is just shilling for Ethereum nothing more, he wants the hype to motivate investors to pump their funds into Ethereum by creating this cheap FOMO and I'm sure that certain ignorant investors will fall for it. He's merely putting his mouth where his money is so I'm not in the least surprised about his speculation and it doesn't matter whether he believes his prediction or not some people will unfortunately fall for it.

Realistically 2030 is not feasible for Ethereum to skyrocket into $60,000 it hasn't shown that it has such potentials therefore Tom Lee's prediction should be swept under the carpet. 2030 is approximately 1 circle away so let us wait and see how such unrealistic miracle can happen, unless we will have approximately ×3000% increase in Ethereum adoption by them which is quite impossible.

[$crypto$]

This is utter nonsense --- Tom Lee often makes controversial speculations to exaggerate, because it's a headline-grabbing matter which means he probably wants to attract attention.

How is it possible that ETH will go to $60,000 in 2030, I just don't imagine with the price of bitcoin maybe at that time the price is $10M, like this is just to encourage many people to buy ETH and then it becomes an upward trend due to Tom Lee's speculation.

[7juju]

I don’t even how possible it is for Ethereum to achieve that. They can only deceive newbies that are just entering into the market with their unrealistic speculations. If Ethereum has struggled to go beyond $5k since it was launched many years ago, which magic is he expecting that Ethereum will do within the next 4 years to achieve $60k. I don’t know about the future though, but there’s no way Ethereum is getting to $60k by 2030. Maybe he meant to say $6k and mistakenly mentioned $60k

[Victorybit1]

I don’t even how possible it is for Ethereum to achieve that. They can only deceive newbies that are just entering into the market with their unrealistic speculations. If Ethereum has struggled to go beyond $5k since it was launched many years ago, which magic is he expecting that Ethereum will do within the next 4 years to achieve $60k. I don’t know about the future though, but there’s no way Ethereum is getting to $60k by 2030. Maybe he meant to say $6k and mistakenly mentioned $60k

.


It's all part of his tactics since he already has a company which according to omegastarscream is one of the biggest holder of Ethereum so it's very much possible that it's the move to create the rush for other investors and crypto enthusiast to get their portfolio stuck piled with Ethereum and we all know what happens when the demand is high although this sort of prediction will only of course move some set of persons that don't actually look at the data and figures before rushing to buying base of some sort of influence.

[Dr.Bitcoin_Strange]

I'm even having a weird feeling Ethereum is dying and the reason behind that is because, I expected that the coin was going to surpass its previous ATH by far but it did not, so many people's speculation for ETH was so high but it underperformed, I don't know if I'm the only one that thinks so. I don't even see ETH getting to $10k in 2030. He is giving false hope to investor so that they will FOMO and then buy ETH.

[TastyChillySauce00]

Could only happen if 100 million ETH circulating got burned and since Ethereum has been so under performing all these years that isn't a guarantee.
I can't imagine holding that big amount of Ethereum while the foundation and other founders are frantically selling their Ethereum. The foundation has sold 30k ETH since march by the way.

[Alonso_]

Honestly we don’t have to listen to anything this people have to say, sometimes there statement can be very misleading, you end up no knowing if they’re saying the truth, In recent times I have seen ETH as something that have been stagnant I haven’t seen a very good movement or a new ATH with Etherum for quite sometime now.

I still don’t understand how possible it will be for etherum to achieve what he is saying, Etherum have been struggling for quite awhile now, and all of a sudden he is already speculating abut Etherum, I think it’s difficult for Etherum to cross it’s present number right now.

[Clement Kaliyar]

~
Is that an analyst to be believed or just a made nonsense? Why should Tom Lee also spread this unrealistic speculation.

If your company holds 4% of the total coins in circulation which is around 5 million ETH and his company BitMine is down over $6 billion in unrealized loss, you come up with predictions like these to hype his holdings.  

Tom Lee is known to have bullish predictions even in the past and usually those predictions will not reach a quarter of the predicted levels and this nothing different.  

His Bitcoin predictions during 2017 were spot on, after that it is all over the place.

[shinratensei_]

I'm afraid that Tom lee will become the next Masayoshi Son investing firmly into something that he believes will become very big only to lose it later.
From my perception I think that he is over-investing into a technology that can easily be replaced by newer technology within the next iteration.

I don't mean ETH will go to zero but ETH has reached its peak and fragmentation of liquidity is a real thing. The liquidity currently scattered around ETH, Solana, BNB, and Tron.
Soon there will be more and once that happens, ETH could be in danger.

[Localhostspeed]

Is that an analyst to be believed or just a made nonsense? Why should Tom Lee also spread this unrealistic speculation.

If ethereum gets to $60000, that is more than $7 trillion dollar marketcap. And it will get there by 2030? Absolutely nonsense.

We even don not know how ethereum will perform later because it also has competitors. That was how some people were predicting $30000 in the last bull market but ethereum did not went up to $5000.

The market cap could be more than or maybe lower because Ethereum doesn't have a stable maximum supply, there is chance of new supply or more coins be burn. However, I think Tom Lee is just like other investors out there. There are people that has said Bitcoin will get to a $1M some years back and some are still doing that on videos interviews saying anything to be bullish about Bitcoin but Ethereum sound ridiculous to get to $60,000.

All I know is that Tomlee doesn't decide what will happen to the Ethereum market, he is one of the biggest investors that has Ethereum and are buying more millions. You can see what Strategy is saying everyday to keep Bitcoin running and going higher, that's the same strategy Tom is doing. He want to see Ethereum bigger much like Bitcoin but I guess Bitcoin will be trading in millions of dollars if we ar to go by his speculation price.

[free-bit.co.in]

I'm even having a weird feeling Ethereum is dying and the reason behind that is because, I expected that the coin was going to surpass its previous ATH by far but it did not, so many people's speculation for ETH was so high but it underperformed, I don't know if I'm the only one that thinks so. I don't even see ETH getting to $10k in 2030. He is giving false hope to investor so that they will FOMO and then buy ETH.

We cannot hastily conclude that ETH is dying simply because it has performed poorly in this cycle and has not yielded the return we expected. Moreover, the development team is constantly working on improvement, and Eth ecosystem is still continuously growing. It is too early to say it is dying.

However, predicting that it will reach $60k by 2030 is an exaggeration and illusion. That is even more unrealistic than predicting that Bitcoin will reach $1 million by 2030

[asriloni]

FYI, Tom Lee holds more than 5 millions of ethereum in his own company "Bitmine". So this is not a surprise when he start to yap non sense thing especially related to the forecasting ethereum.

He predicted each ethereum would worth 7k - 9k late 2025. He changes his prediction for each ethereum to worth even 6 figures, which is only his dream.

It seems he's getting crazy cause his company is still in huge impermanent lost due to his ethereum holding. At this point, anyone who trust this guy has to be called crazy. Someone with sense will never ever believe that random forecast by him.

[TastyChillySauce00]

I'm even having a weird feeling Ethereum is dying and the reason behind that is because, I expected that the coin was going to surpass its previous ATH by far but it did not, so many people's speculation for ETH was so high but it underperformed, I don't know if I'm the only one that thinks so. I don't even see ETH getting to $10k in 2030. He is giving false hope to investor so that they will FOMO and then buy ETH.

We cannot hastily conclude that ETH is dying simply because it has performed poorly in this cycle and has not yielded the return we expected. Moreover, the development team is constantly working on improvement, and Eth ecosystem is still continuously growing. It is too early to say it is dying.

However, predicting that it will reach $60k by 2030 is an exaggeration and illusion. That is even more unrealistic than predicting that Bitcoin will reach $1 million by 2030

ETH is far from dying considering the TVL and daily transactions made in the blockchain, the coin failed to surpass previous ATH but it's the same to other altcoins.
Actually if ETH price keeps increasing every cycle, that'd be bad because the fee will also increase. Although Vitalik said Ethereum doesn't need L2 anymore because it's cheap enough, the price spike still happens frequently.

[el kaka22]

While I am sure that 60k will be possible one day in the very distant future as long as crypto exists, we are not going to see that anytime soon. Logic is simple, crypto always goes up, because fiat always loses value, and if you wait long enough, one day it will be 60k and even be 600k, not sure if we will be alive to see that, but it can get there, it just needs time.

The only possible reason why it may not reach that, would be demise of crypto all together, or even just ETH, if it becomes zero, then yeah, if anything happens, then yeah it will not happen. But if nothing happens and it is not crashing, then the logic is simple, there is no reason for it to go down at all. Should go up as much as possible in the future with time.

[MArsland]

His company BitMine is one of the largest (if not THE largest) holders of Ethereum. It make perfect sense that he would make such statements, and he probably believes it too, otherwise he wouldn't be investing heavily on it as he is. Personally though, I don't see it happening, just like I don't see the 1M per Bitcoin by 2030.

From here we also know where he wants to go, BitMine itself is most actively investing in ETH and several other coins. Tom Lee himself is clearly not just speculating but has a goal that what his company holds is profitable.