Finance

Can Ethereum Surge to $12,000? Top Crypto Bulls Lay Out Bullish ETH Predictions

Tom Lee and Arthur Hayes predict Ethereum could hit $10,000+ by year-end, citing strong fundamentals and market momentum.

byAndres Castro

October 16, 2025, 5:06 PM

As the Ethereum cryptocurrency market surges, the rising candlestick chart symbolizes the potential for growth. By MDL.

Executive Summary

Crypto industry figures Tom Lee and Arthur Hayes predict Ethereum (ETH) could reach $10,000 or higher by the end of the year.

Their bullish forecasts are driven by strong market momentum, fundamental growth, ongoing ecosystem developments, and a belief that $10,000 would represent a new phase of price discovery rather than an overheat.

Both experts view Ethereum as a critical “compute” asset and architectural foundation for innovation in areas like Wall Street and Artificial Intelligence, independent of Bitcoin’s role as “money” or “digital gold.”

The Story So Far

The remarkably bullish outlook for Ethereum (ETH) to reach $10,000 or higher by year-end is primarily driven by its strong fundamentals and ongoing ecosystem developments, along with its evolving role as the crypto space’s “computing reference asset” and an architectural foundation for innovation in areas like Wall Street and Artificial Intelligence, following a period of consolidation since its 2021 peak.

Why This Matters

The highly bullish predictions for Ethereum, targeting $10,000-$12,000 by year-end from prominent crypto figures, signal a potential new phase of price discovery and significant market momentum for the asset. This outlook is driven by Ethereum’s evolving role as both “money” and a foundational “compute” platform, suggesting it is poised to become critical infrastructure for innovation in areas like AI and Wall Street, rather than simply an alternative to Bitcoin. Consequently, its expanding utility and distinct growth trajectory could have substantial long-term implications for its adoption across various sectors.

Who Thinks What?

Arthur Hayes, founder and former CEO of BitMEX, predicts Ethereum (ETH) could reach $10,000 by year-end, driven by strong market momentum, and views ETH as the “computing reference asset” of the crypto space, distinct from Bitcoin which he considers “money.”

Tom Lee, Chairman of BitMine, offers an even more optimistic forecast, believing Ethereum could climb to $10,000-$12,000, arguing that this would represent a new phase of price discovery after consolidation, underpinned by strong fundamentals, ongoing ecosystem developments, and its role as an architectural foundation for innovation in areas like Wall Street and AI.

Two prominent figures in the crypto industry, Tom Lee, Chairman of BitMine, and Arthur Hayes, founder and former CEO of BitMEX, have expressed a remarkably bullish outlook for Ethereum (ETH), predicting its price could soar to $10,000 or higher by the end of the year. Their forecasts, made during a discussion on the Bankless YouTube podcast hosted by David Hoffman, are fueled by expectations of fundamental growth and shifting market dynamics, adding optimism that the upcoming Q4 bull rally could significantly favor Ethereum.

Ethereum Price Targets

During the podcast, Hayes was the first to offer his year-end price expectations, confidently projecting that ETH could reach $10,000, alongside Bitcoin climbing to $250,000. When questioned about Ethereum’s ability to more than double in a short timeframe, the BitMEX founder emphasized the strength of the current market momentum.

Lee presented an even more optimistic view, setting his Ethereum target between $10,000 and $12,000, despite a recent crypto market flash crash. He also predicted Bitcoin could range between $200,000 and $250,000. Lee dismissed concerns about rapid price appreciation being unsustainable, noting that ETH has been consolidating since its 2021 peak, suggesting that $10,000 would not represent a market overheat but rather a new phase of price discovery.

The BitMine Chairman further argued that strong fundamentals and ongoing ecosystem developments underpin this potential growth. He also indicated that $10,000 might not be the cycle top for Ethereum, with forthcoming developments in 2026 potentially creating room for further price appreciation.

Ethereum’s Evolving Role Beyond Bitcoin

The discussion also explored the evolving relationship between Bitcoin and Ethereum within the broader crypto market. Hayes articulated his view of Bitcoin primarily as “money” and Ethereum as “compute,” describing ETH as the “computing reference asset” of the crypto space, technologically superior to other altcoins.

Lee concurred with Hayes’s assessment but expanded on it, seeing Ethereum as both money and a computing asset. He characterized Bitcoin as digital gold and ETH as an architectural foundation for innovation, particularly in areas like Wall Street and Artificial Intelligence (AI). Lee underscored that Ethereum’s growth trajectory is independent of competing with Bitcoin, focusing instead on expanding its own utility and adoption.

Key Takeaways

Both Tom Lee and Arthur Hayes share a strong conviction in Ethereum’s significant short-term price potential, driven by its fundamental strength and unique technological position. Their outlook suggests that Ethereum is poised for substantial growth, not merely as an alternative to Bitcoin, but as a critical infrastructure for future innovation across various sectors.