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BitMine Immersion Technologies Inc. Update
BitMine Immersion Technologies Inc. ((NYSE: BMNR)) Chair Tom Lee announced on Saturday that the prolonged “cryptocurrency winter” is approaching its conclusion, with Bitcoin and Ethereum nearing their bottom prices.
Market Predictions
In an interview, Lee referenced Tom DeMark, BitMine’s timing advisor, who indicated that Bitcoin might stabilize around $60,000, while Ethereum could reach a low of approximately $1,890.
Optimistic Outlook
“I believe it hit that mark precisely. He thinks we might need just one more dip beneath it, and then we’ll see a reversal, suggesting we are very close to the end,” remarked the co-founder of Fundstrat.
Timeline for Recovery
Lee further expressed that the cryptocurrency winter might conclude as early as April, if it hasn’t already done so.
Recent Trends and Insights
His projections follow a challenging interval for cryptocurrencies, with values plummeting to multi-month lows. For instance, Bitcoin has dropped 45% from its October peak.
Market Analysts Weigh In
Last week, Fidelity’s Jurrien Timmer also identified the $60,000 price point for Bitcoin as a potential cycle low. Influential traders have dismissed the possibility of a sharp recovery, instead anticipating a more gradual rebound.
Lee’s forecasts coincide with his prior outlook for cryptocurrency trends in 2026, where he anticipated a 10-15% decline due to regulatory uncertainties from the White House and the Fed. Despite some criticisms directed at Fundstrat regarding varying opinions within its analysts, there is ongoing discourse on Bitcoin potentially reaching new all-time highs by early 2026.
