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Tom Lee, the chairman of BitMine Immersion Technologies, set the target price for Ethereum at $22,000 at an event in Miami this week. With Ethereum currently trading at $2,280.70, this prediction represents an increase of almost 10 times the current price.
This vision is based on a two-part assumption: The first is that the ETH/BTC ratio returns to its old values ​​against the Bitcoin price of $250,000. The second part is related to demand principles, with Lee saying that AI agents will need a sustainable approach that traditional banks cannot provide.
This combination, as Lee argued publicly and on stage, makes Ethereum cheap right now.
UPDATE: Tom Lee says the price of Ethereum is $22,000
– Kalshi Crypto (@Kalshi_Crypto) May 7, 2026
But the problem with this prediction is reality; All of the items in this list must be completed at the same time. Bitcoin should start to reach $250,000.
The ETH/BTC ratio should also return to the 2021 peak of 0.087, from its current level of 0.03. In addition, AI adoption of blockchain technology is expected to occur on a scale that the market has never bought before.
Below is an examination of whether the data supports these assumptions, and which ones weigh more heavily in the equation.
The ratio calculations given by me are straightforward; The long-term average of the ETH/BTC ratio is around 0.048, while the 2021 peak reached 0.087.
Applying these figures to a Bitcoin price of $250,000, they make Ethereum targets around $12,000 and $21,750, respectively. Therefore, the figure of $ 22,000 represents a great hope: the high figure corresponds to Bitcoin reaching its highest levels.

The key piece of AI development is where Lee moves away from mere marketing. His objections are that AI agents operating independently in the global economy will need a payment system that operates around the clock independent of banks.
Ethereum’s immutable ledger and pool of notaries make it immutable in this process. Lee also cited stablecoin revenue exceeding Visa’s annual revenue, which is backed by numbers; Ethereum-based stablecoin volumes (USDC, USDT, and DAI together) will reach about $220 trillion annually in 2025, compared to $12.2 trillion for Visa. These words are not just a rumor.
On the supply side, Lee’s position at BitMine adds to the current situation; The company owns more than 4% of all Ethereum that is managed and generates more than $300 million a year in gross profit. This puts Lee’s vision of hoping to be very close to money to his organization, a conflict of interest that needs to be recognized, but it does not mean that the idea is wrong, but rather it requires a psychological evaluation.
Ethereum currently stands at $2,330 on the daily chart. The overall picture shows the coin peaked at around $4,900 in August and entered a more than one-year low, losing more than 60% of its value before dropping to $1,750 in February.
The recovery from the bottom has been the most expensive movement since the decline began, when the price was recorded at the lowest level from February to May, and now it is settled in the area of ​​$ 2,300-$ 2,400, which is a very difficult place.

The $2,400 level is where the fall intensified in February, making it the first supply point to be cleared before a profitable recovery. The price has been fluctuating below it for weeks with no clarity.
A daily close above $2,400 and holding above it for several levels will open the way to $2,800 first, then $3,000 and $3,400 levels as the next resistance areas due to the distribution of November and December.
Coming to the bottom, the level of $ 2,000 represents the bottom that has resisted any decline since March, while the level of $ 1,750 remains a dividing line that cannot be broken without all the bases falling.
The more time that Ethereum spends accumulating below the level of $ 2,400 without breaking, the greater the pressure of the price explosion can rise. But until this explosion occurs, this move is only a long-term reversal and not a definitive reversal.
A note Ethereum Predictions at $22K: How Tom Lee Sees ETH Going Up? appeared for the first time Cryptonews Arabic.
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