Mr. Tom Lee and Mr. Arthur Hayes Reiterate Bold Ethereum $10,000 Prediction Amid Price Discovery

Ethereum (ETH) climbed past its 2021 all-time high in late August, briefly reaching about $4,900, but has since seen sharp pullbacks that intensified at the end of September and into last week. Despite these declines, two high-profile market figures — Mr. Tom Lee, president of Company BitMine, and Mr. Arthur Hayes, co-founder of Company BitMEX — have doubled down on a bullish year-end outlook, maintaining that Ethereum can reach $10,000 within the year.

On a recent episode of the Bankless podcast, Mr. Tom Lee and Mr. Arthur Hayes reiterated their earlier forecast, placing a year-end target range between $10,000 and $12,000. According to the duo, what the market has recently experienced is not the formation of a bubble but a process of price discovery as Ethereum breaks out of a multi-year lateral trading range. Mr. Lee emphasized that ETH’s breakthrough of the 2021 trading ceiling was not a definitive peak but rather part of a broader quest to establish a new long-term floor.

Market context: Ethereum traded sideways for roughly four years following the 2021 highs. The breakout above that range in late August and subsequent volatility represent a classic pattern of exploration for a sustainable price level. In such phases, price action often produces swift rallies and sharp retracements as buyers and sellers reassess valuations and liquidity is absorbed at higher levels.

The projection: At present, Ethereum is trading near $4,100. A move to $10,000 would imply roughly a 143% gain from current levels. Both Mr. Lee and Mr. Hayes argue that macro trends, ongoing network development, and increasing institutional interest support the potential for such a move, framing the target as achievable rather than speculative hyperbole.

Technical and sentiment signals: Analysts who view this period as price discovery point to the combination of on-chain indicators, reduced selling pressure from long-term holders, and renewed demand from institutions and developers. Momentum-based traders, however, will likely require confirmation in the form of sustained higher highs and increasing on-chain activity before committing to large long-conviction positions.

Risk considerations: While the bullish case from Mr. Tom Lee and Mr. Arthur Hayes is clear, readers should remember that forecasts are opinions, not guarantees. Price discovery phases can be volatile and extend longer than anticipated, and unexpected macro shocks or regulatory developments can derail projected trajectories. This is not investment advice.

Conclusion: The repeated $10,000 prediction from two prominent figures underscores a strong bullish narrative for Ethereum entering year-end. Whether ETH achieves this target will depend on liquidity dynamics, macro risk appetite, and continued network adoption. For traders and investors, the current environment looks like a classic price-discovery regime: prepare for volatility, watch for confirmations of a sustained uptrend, and manage risk accordingly.