Many in the industry are calling this downturn a “mini winter” or brief bear market rather than the start of a longer slump that could last several years.
Tom Lee, chief of research at BitMine Immersion Technologies and Fundstrat, is optimistic about the direction of pricing. Lee advised investors to purchase during price declines rather than attempting to anticipate precise market bottoms while speaking at the Consensus Hong Kong 2026 conference.
Gold had a great run in 2025, but Lee noted that it might have peaked, which might let Bitcoin beat it this year. He also mentioned Ethereum’s history of recovering from significant selloffs.
Since 2018, Ethereum has experienced eight 50%+ drops, each followed by a sharp V-shaped recovery. Each time, the cryptocurrency recovered in a sharp V-shaped pattern, with prices climbing back up as fast as they had fallen.
On Rug Radio with host Farokh Sarmad, Lee described current market conditions as needing time to work through problems, not a deep bear market. He said he has no regrets about aggressively buying Ethereum, viewing it as essential for growing areas like stablecoins, artificial intelligence integration, and the creator economy over the next 15 years.
Large institutions are still making purchases, but regular investors are still dubious. BitMine has rapidly increased its Ethereum holdings, now holding over 4.326 million ETH, or roughly 3.58 percent of the total supply. To generate extra returns, a large portion of this cache is staked.
As part of its strategy to become the largest corporate Ethereum holder, the corporation continues to purchase more every week, despite sitting on unrealized losses.
Big Wall Street companies have also been involved. Cathie Wood’s company, Ark Invest, recently purchased millions of shares in its exchange-traded funds. This indicates that institutional interest in stocks linked to Ethereum is still high.
Other analysts have also weighed in. Standard Chartered calls 2026 “the year of Ethereum,” predicting ETH to reach about $7,500 by year-end. The bank cites growing stablecoin use, real-world asset tokenization, and network improvements as key drivers, but warns about broader economic risks.
It has lowered its previous targets while still seeing Ethereum to outperform Bitcoin if investment flows and scaling solutions take hold.
J.P. Morgan-linked projections suggest trading in the $7,000 to $9,000 range early this year under favorable conditions.
