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Monday Nov 17 2025 06:10
2 min
Ether (ETH) is embarking on a similar trajectory to Bitcoin (BTC), which has seen its price multiply over 100 times since 2017, according to Tom Lee, executive chair of Ether treasury company BitMine. Lee stated in an X post on Sunday that he initially recommended Bitcoin to clients of his research firm, Fundstrat, in 2017 when it was valued at approximately $1,000. Bitcoin has since experienced multiple price declines of up to 75%.
“However, Bitcoin has now ‘100x from our first recommendation,’” Lee stated. “We believe ETH is embarking on that same Supercycle.”
Ether underperformed Bitcoin for several months in early 2025 as Bitcoin established new price highs. ETH reached an all-time high of $4,946 in August, while Bitcoin continued its ascent to a peak exceeding $126,000 in October.
As of Monday, Bitcoin has decreased by 25% from its peak, and Ether has fallen more than 35% from its high as the market has contracted. Lee attributed this volatility to skepticism, which he believes is “discounting a massive future.”
“To have gained from that 100x Supercycle, one had to stomach existential moments to HODL,” he added.
CryptoQuant contributor Burak Kesmeci noted on Sunday that Ether, currently trading around $3,150, is only approximately $200 away from reaching the average cost basis of long-term accumulators, or those “patiently stacking.”
He further added that Ether has only dipped below this level once before, in April, when U.S. President Donald Trump’s global tariffs were enacted.
Kesmeci also stated that approximately 17 million ETH have flowed into accumulation addresses this year, and the total balance held by long-term wallets has increased to 27 million ETH from 10 million ETH at the beginning of the year.
He posited that if ETH falls below $2,900 to the cost basis of these long-term holders, then “it is unlikely to stay there for long,” as this price has historically been “one of the strongest long-term accumulation opportunities.”
Ether had declined to a 24-hour low of $3,023 but has since recovered slightly, trading flat over the past day at $3,185.
Risk Warning: This article is provided for informational purposes only and does not constitute investment advice, investment research, or a recommendation to trade. The views expressed are those of the author and do not necessarily reflect the position of Markets.com. When considering shares, indices, forex (foreign exchange), and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and may not be suitable for all investors. Leveraged products can result in capital loss. Past performance is not indicative of future results. Before trading, ensure you fully understand the risks involved and consider your investment objectives and level of experience. Cryptocurrency CFD trading restrictions may apply depending on jurisdiction.
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