ETH has recently fallen 42% from its historical high and is currently sluggish. Investor Tom Lee is optimistic that it could rise to $7,000 in the coming months, believing that ecosystem expansion will increase demand. However, his own large holdings of ETH cast doubt on the credibility of his predictions. At the same time, competing chains like Solana have advantages in speed and cost. To achieve a 147% rise in the short term, market sentiment needs to improve significantly, which lacks certainty.

The cryptocurrency market is experiencing a significant downturn, with major coins like Bitcoin, Ethereum, Solana, BNB, and XRP seeing substantial declines due to recent liquidations. Bitcoin is down over 6% this week, trading at around $85,758.