RATE Group | Ether is about to stage a comeback, Fundstrat’s Tom Lee says
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Ether is about to stage a comeback, Fundstrat’s Tom Lee says

27 Sep Ether is about to stage a comeback, Fundstrat’s Tom Lee says

Posted at 21:46h in Cryptocurrency News by

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Ether has had a tough year. But it’s not too late for a comeback, according to bitcoin bull Tom Lee.

The world’s second-largest digital asset is down more than 70 percent since January and can’t seem to find its footing after a breakout 2017. In the past three months alone it has dropped 50 percent and largely underperformed other top cryptocurrencies, according to data from CoinDesk.

The last four out of four times it lagged its peers that badly, by two standard deviations, Lee said ether saw a “major trend reversal.”

“We believe Ethereum is about to stage a trend reversal and rally strongly,” Lee, managing partner and head of research at Fundstrat Global Advisors, said in a note to clients Thursday.

Ether was the…

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