BitMine Immersion Technologies Inc.
(NYSE:BMNR) Chair Tom Lee made a case on Thursday that Ethereum (CRYPTO: ETH) is bottoming and entering the next phase of mainstream adoption Crypto Winter Over?
In his latest message to shareholders, Lee said that the "crypto spring is here." He cited the research of Tom DeMark, a popular technical analyst and Bitmine Immersion's timing advisor for cryptocurrency acquisitions, who believes everything is set for a "market bottom" and that the "Ethereum risk-reward is to the upside." DeMark’s model sees Ethereum today as analogous to the S&P 500 in 1987, projecting around $2,200 for the cryptocurrency in August Bitmine July Chairman message on the website titled "ETH is the cure for the Uncanny Valley of Wealth"– comprehensive look at the state of – the drivers for ETH 2.0– the 4 macro headwinds which are turning into tailwinds– please give the video a watch… https://t.co/0PqlIb0or4 pic.twitter.com/9OW6B1WrAD— Thomas (Tom) Lee (not drummer) FundstratDirect.com (@fundstrat) July 16, 2026 ETH 2.0 To Be Exponential, Says Tom Lee Lee said Ethereum’s future market is primed for "exponential" growth, adding that it's transitioning to its 2.0 phase.
"I think people are rage-quitting at the bottom for Ethereum here," the Wall Street analyst said.
