Woofun AI reports that Tom Lee, chairman of Bitmine (BMNR), declared at the WebX 2026 conference in Tokyo that Ethereum (ETH) has likely reached its price bottom. He anchored this thesis by drawing a direct comparison between ETH’s current trajectory and the performance of the S&P 500 index following the 1987 stock market crash.

The deeper driver is the psychological impact of lower prices, which Lee argues causes investors to overlook fundamental shifts. He emphasized that accelerating institutional adoption by Wall Street firms serves as a stronger long-term indicator than short-term price movements.

Structurally, the comparison to the post-1987 S&P 500 suggests a period of consolidation followed by a sustained upward trend. This model implies a gradual recovery rather than a quick return to previous highs.

Per Woofun AI, Lee identified critical macroeconomic catalysts for 2026, including U.S. monetary policy and the Clarity Act’s impact on regulatory frameworks. The concentration of capital driven by the artificial intelligence (AI) investment boom and the relative underperformance of the traditional financial sector further support this outlook.

This analysis provides a counter-narrative to prevailing bearish sentiment and retail speculation.

However, the prediction remains a single analyst’s view, subject to inherent volatility in a complex and evolving landscape.