Fundstrat co-founder Tom Lee asked his team's technical analyst Mark Newton for his views on Ethereum (ETH). Newton noted that Ethereum could reach around $5,500 in September and $9,000 in early January. The bullish sentiment surrounding Ethereum isn't limited to price predictions. The Fundstrat team argues that Ethereum could play a critical role in the decentralization of artificial intelligence (AI). Accordingly, the ETH network could provide the foundational infrastructure for areas like data collection commercialization, copyrights, loyalty programs, AI verification, and identity proofing. Related News: This Altcoin Announced a Major Update, Spiking Its Price Ethereum has also been described by analysts as “digital oil.” Citing ExxonMobil’s position as one of the largest companies in the S&P 500 between 1990 and 2018, Fundstrat argues that ETH could also emerge as a long-term leader in the financial system’s payment infrastructure with a similar valuation model. According to the analysis, if Bitcoin reaches $250,000 by the end of the year, Ethereum's price could fall between $12,000 and $22,000. In more ambitious scenarios, ETH could reach over $60,000, with a valuation that would replace the banking system's payment infrastructure. Newton’s technical analysis focuses on the short term: “$5,500 levels are possible in September, and $9,000 is on the agenda at the beginning of January.” *This is not investment advice. Continue Reading: Ethereum Bull Tom Lee and His Team Reveal Their Price Forecast for ETH This Month and January
