Can ETH rise to $7,000? Is this prediction by Wall Street pro Tom Lee worth following?

Famous Wall Street analyst Tom Lee recently made a bold statement: Ethereum is expected to surge to $7,000 in the next few months, a 147% rise compared to the current price. His own company, BitMine, holds over $10 billion in ETH, which is quite a significant investment.

Is the prediction reliable? Let's analyze it:

$7,000 is actually only about 40% higher than the historical high of $4,946 set last August, which is not particularly outrageous from a numerical perspective. At this price, the market cap of Ethereum would reach 845 billion, still less than Bitcoin's 1.7 trillion. From a technical standpoint, this round of bottom-fishing could indeed push prices higher.

But the problem is - Lee himself holds 3.5 million ETH, so his prediction inevitably has self-interest involved. In addition, competitors like Solana are also eyeing the market; SOL's transaction speed is 100 times faster than ETH, and the transaction fees are cheaper, which adds significant competitive pressure.

A crazier target is $62,000 (before 2035), at which point the market value of ETH would soar to 7.5 trillion, worth more than the current largest companies in the world. Although it's not entirely impossible, it would require DeFi to really revolutionize the entire financial system, which carries too much risk.

Bottom line: ETH does have potential, but don't be fooled by a single voice. Do your homework and take a look at other Layer 1 ecosystems before making a decision.