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Ethereum at $6,000 by December is the call. Getting there requires Bitcoin to gain roughly 91% in four months, a pace $BTC has managed across a full year but rarely within a single quarter.
Tom Lee, Fundstrat co-founder and chairman of BitMine Immersion Technologies (BMNR), laid out the framework on the Milk Road Show: if Bitcoin reaches $150,000 and the ETH/BTC ratio climbs from about 0.03 to 0.04, $ETH's dollar price follows.
The framework behind the target Bitcoin currently trades near $78,600. Lee's argument begins with the ETH/BTC ratio, which measures Ethereum's relative value against Bitcoin rather than either asset's dollar price.
That ratio ran near 0.08 at the 2021 cycle peak and has since compressed to roughly 0.03. Lee expects a recovery to 0.04, which he called conservative given cycle history.
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