Well-known Wall Street analyst Tom Lee has recently released a bold prediction — Ethereum could soar to the range of $20,000 to $50,000. This figure sounds exaggerated, but looking back at his historical track record, it does carry some weight.

In 2018, during the Bitcoin crash, he relied on the "mining cost model" to determine the bottom position. During the market downturn at the end of 2022, he accurately predicted the rebound of the US stock market in 2023. Now, he is betting on Ethereum.

The timing is intriguing. The Fusaka upgrade is set to go live on December 3rd, and network performance is expected to improve significantly. More importantly, BitMine, chaired by Tom Lee, is on a buying spree—last week alone, they accumulated over 96,000 Ether, with purchasing intensity surging by 39% compared to before.

Data is more intuitive: BitMine currently holds over 3.72 million Ether, valued at approximately 1.21 billion USD at current prices. This substantial investment is more convincing than any verbal prediction. Company executives have clearly stated their optimism for the December market and are accelerating their accumulation.

With technological upgrades acting as a catalyst, combined with the possibility of a shift towards a looser macro environment, along with continuous inflows of institutional funds, several factors are emerging simultaneously. How will the market move?

What do you think of the current Ethereum market?