Ethereum Price Prediction: While Everyone’s Scared, BitMine Just Bought 21,000 ETH – Are They Betting on a 2026 Bull Run?
BitMine Immersion Technologies (BMNR) has doubled down on ETH, including one other 21,000 cash in a testomony to bullish Ethereum price predictions.
The $60 million funding within the altcoin comes regardless of bear market sentiment, with the U.S. macro panorama unsure on account of a black zone created by the federal government shutdown.
Even because the agency grapples with a $4 billion an estimated $4 billion in paper losses following the 30% worth decline over the previous month, it’s leaning into a long-term ETH thesis.
To offset the sting of declining asset costs, BitMine is rebranding itself from a passive ETH holding firm to an energetic yield generator via staking, deepening its dedication to long-term holding.
BitMine Chairman Thomas Lee has blamed latest market stress on a “liquidity shock” relatively than weakening fundamentals, citing the $20 billion in leveraged positions worn out on October 10.
He likened present circumstances to the 2022 post-FTX liquidity shock, which took 8 weeks to clear however in the end led to a sharp “V-shaped” restoration, a sample he believes is repeating.
Lee has forecast 3,500 as a probably native backside to the correction, and with Ethereum “mainly there,” the following leg of the bull run could also be primed.
Ethereum Price Prediction: Does the Bull Run Start Now?
This “V-shaped” restoration mirrors present worth motion, with Ethereum filling out the ultimate shoulder of a potential bullish head-and-shoulders sample.
With supportive momentum indicators and a decisive bounce from a historic demand zone round $2,750, the anticipated native backside might have are available in early.
The RSI has reached ranges indicative of vendor exhaustion on the 30 oversold threshold, and the extent that has marked native bottoms of the left shoulder and head all through the sample.
The MACD additionally converges on a potential golden cross above the sign line for the primary time since early November, typically marking the early phases of a recent uptrend.
A totally realised sample breakout may see the neckline reclaimed round $5,500, reclaiming previous all-time highs and coming into new worth discovery in a 90% transfer.
But because the bull market matures, if Ethereum returns to different mainstream steadiness sheets via company treasuries and ETF accumulation, the transfer may prolong 250% to $10,000.
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