Fundstrat's Tom Lee predicts that Crypto (ethough Ethereum in particular) could outperform in the fourth quarter of this year.
His market research firm hopes the US Federal Reserve will be tracked and begin cutting rates.
Lee ETH price target
Lee believes Ethereum (ETH) can hit $5,500 in the coming weeks.
By the end of the year, ETH could approach $10,000 or $12,000, says Lee.
Lee points out that ciphers tend to show more volatility in the fourth quarter of the year.
“September is a month that everyone worries, so it's the month you might get a pullback, but you need to buy a dip,” Lee pointed out.
Today, Ethereum managed to regain the $4,600 level, but Bitcoin appears to continue its anemia price action.
Giant ETH Holdings
According to data provided by analytics firm Arkham, Lee holds around $7 billion worth of ETH tokens, rapidly surpassing some of the other top corporate financial tokens.
The most important company in the world
Lee believes Nvidia is currently one of the most “important” companies in the world.
“So I think Nvidia is still a great story. Even if the stocks are not responding well enough, it really won't change our paper, Lee said.
Fundstrat Pundit claims that Nvidia is a “great story.”
ipos bevy
Lee also predicts that there will be “bevy of IPOs” for 12 months. “And when you look at the next 12 months, you know there are a lot of IPOs.
