Tom Lee and Arthur Hayes remain optimistic about Ether’s future value, asserting that it could reach $10,000 this year following a crypto market downturn. Lee emphasized on the Bankless podcast that Ether hitting $12,000 could merely mean price discovery rather than an alarming spike. This target aligns closely with Hayes’ consistent prediction of $10,000 by year-end.

At the publication time, Ether hovered around $4,129, signifying an approximate 142% increase to meet the proposed goal. Lee pointed out that Ether has been consolidating since its all-time high of $4,878 in 2021, suggesting any potential rise would not indicate an overheated market. He stated:

“Ethereum’s basically been basing for four years now, just broke out of the range, so to me, it wouldn’t be a blow off top, but rather seeking essentially price discovery at a new level.”

(Tom Lee’s statement means that Ether’s rise wouldn’t suggest market excess but rather re-evaluation of its price.)

Despite Ether’s brief surge to the 2021 highs earlier this year, it has retraced since then. Lee forecasts a more substantial movement next year.

Market data indicates that Ether historically achieves average returns of 21.36% during the fourth quarter, suggesting that a more conservative estimate might position Ether closer to $5,000 by the year’s end. Notably, analysts predict varying market responses, with other contributors projecting a potential rise to $6,500.

Furthermore, MN Capital’s Michael van de Poppe noted that recent market drops could present buying opportunities, hinting at possible new highs for Ether soon.