Wall Street Strategist Tom Lee Says Ethereum Is Going to $6,000 By December. Here's Why He's Wrong.

Ethereum (CRYPTO: ETH) has been on an absolute heater of late. Since June 30, Ethereum has been up a heart-pounding 60%, making it one of the top-performing assets in the world during that time period.

So is this type of blistering performance enough for Ethereum to double in value by the end of the year? Wall Street strategist Tom Lee thinks so. In fact, he predicted that Ethereum will hit a price of $6,000 by December. But just how likely is that?

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The path to $6,000 for Ethereum

According to Lee, two important conditions must be met for his Ethereum price prediction to come true. And from my perspective, neither one is very likely.

First, Bitcoin (CRYPTO: BTC) has to reach $150,000. That's highly unlikely, given that Bitcoin is currently trading for just $77,000. Bitcoin will need to nearly double in value within just two months.

Moreover, Bitcoin will need to blow past its previous all-time high of $126,000 on its way to $150,000. According to the Kalshi online prediction market, there's only a 5% chance of that happening by the end of the year.