{"id":2940,"date":"2018-09-28T19:56:08","date_gmt":"2018-09-28T19:56:08","guid":{"rendered":"https:\/\/atozcrypto.org\/?p=2940"},"modified":"2018-09-28T19:59:50","modified_gmt":"2018-09-28T19:59:50","slug":"beaten-down-cryptocurrency-ether-is-about-to-rally-strongly-says-wall-streets-tom-lee","status":"publish","type":"post","link":"https:\/\/atozcrypto.org\/beaten-down-cryptocurrency-ether-is-about-to-rally-strongly-says-wall-streets-tom-lee\/","title":{"rendered":"Beaten-down cryptocurrency ether is about to &#8216;rally strongly,&#8217; says Wall Street&#8217;s Tom Lee"},"content":{"rendered":"<figure id=\"attachment_2871\" aria-describedby=\"caption-attachment-2871\" style=\"width: 506px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.binance.com\/?ref=11002907\"><img decoding=\"async\" class=\"wp-image-2871\" src=\"https:\/\/atozcrypto.org\/wp-content\/uploads\/2018\/08\/DQmTjQ8yUXb11cWogfubBL2wWp28wywJLBDR9HjMCGU6wgp_1680x8400-300x54.png\" alt=\"\" width=\"506\" height=\"91\" srcset=\"https:\/\/atozcrypto.org\/wp-content\/uploads\/2018\/08\/DQmTjQ8yUXb11cWogfubBL2wWp28wywJLBDR9HjMCGU6wgp_1680x8400-300x54.png 300w, https:\/\/atozcrypto.org\/wp-content\/uploads\/2018\/08\/DQmTjQ8yUXb11cWogfubBL2wWp28wywJLBDR9HjMCGU6wgp_1680x8400-768x138.png 768w, https:\/\/atozcrypto.org\/wp-content\/uploads\/2018\/08\/DQmTjQ8yUXb11cWogfubBL2wWp28wywJLBDR9HjMCGU6wgp_1680x8400-850x152.png 850w, https:\/\/atozcrypto.org\/wp-content\/uploads\/2018\/08\/DQmTjQ8yUXb11cWogfubBL2wWp28wywJLBDR9HjMCGU6wgp_1680x8400.png 954w\" sizes=\"(max-width: 506px) 100vw, 506px\" \/><\/a><figcaption id=\"caption-attachment-2871\" class=\"wp-caption-text\">First Published on <a href=\"https:\/\/www.cnbc.com\/2018\/09\/27\/beaten-down-cryptocurrency-ether-is-staging-a-comeback-fundstrats-tom-lee-says.html\">cnbc.com<\/a> by Kate Rooney 2:49 PM ET Thu, 27 Sept 2018<\/figcaption><\/figure>\n<ul>\n<li>Ether has lost 70 percent of its value this year but Wall Street\u2019s biggest crypto bull says it\u2019s \u201cabout to rally strongly.\u201d<\/li>\n<li>Fundstrat&#8217;s Tom Lee says the past four out of four times ether underperformed other cryptocurrencies by two standard deviations, it saw a&#8221;major trend reversal.&#8221;<\/li>\n<li>It was one of the best performing cryptocurrencies last year but ether struggled from a lack of confidence in its technology roadmap, increased competition, and \u201cpanic selling.\u201d<\/li>\n<\/ul>\n<p>Ether has had a tough year. But it&#8217;s not too late for a comeback, according to bitcoin bull Tom Lee.<\/p>\n<p>The world&#8217;s second-largest digital asset is down more than 70 percent since January and can&#8217;t seem to find its footing after a breakout 2017. In the past three months alone it has dropped 50 percent and largely\u00a0<a href=\"https:\/\/www.cnbc.com\/2018\/09\/06\/ether-was-hyped-as-the-better-more-useful-version-of-bitcoin-but-some-investors-have-run-out-of-patience.html\">underperformed<\/a>\u00a0other top cryptocurrencies, according to data from CoinDesk.<\/p>\n<p>The last four out of four times it lagged its peers that badly, by two standard deviations, Lee said ether saw a &#8220;major trend reversal.&#8221;<\/p>\n<p><a href=\"https:\/\/afrochain.co\/index\/2018\/08\/13\/afrochain-private-sale\/\"><img decoding=\"async\" class=\"wp-image-2878 aligncenter\" src=\"https:\/\/atozcrypto.org\/wp-content\/uploads\/2018\/08\/ICO-AFR-300x46.jpg\" alt=\"\" width=\"476\" height=\"73\" srcset=\"https:\/\/atozcrypto.org\/wp-content\/uploads\/2018\/08\/ICO-AFR-300x46.jpg 300w, https:\/\/atozcrypto.org\/wp-content\/uploads\/2018\/08\/ICO-AFR-768x118.jpg 768w, https:\/\/atozcrypto.org\/wp-content\/uploads\/2018\/08\/ICO-AFR-1024x158.jpg 1024w, https:\/\/atozcrypto.org\/wp-content\/uploads\/2018\/08\/ICO-AFR-850x131.jpg 850w, https:\/\/atozcrypto.org\/wp-content\/uploads\/2018\/08\/ICO-AFR.jpg 1103w\" sizes=\"(max-width: 476px) 100vw, 476px\" \/><\/a><\/p>\n<p>&#8220;We believe Ethereum is about to stage a trend reversal and rally strongly,&#8221; Lee, managing partner and head of research at Fundstrat Global Advisors, said in a note to clients Thursday.<\/p>\n<p>Ether was the star cryptocurrency last year, way outperforming its predecessor bitcoin but 2018 has been a different story. Investor patience is wearing thin \u2014 mainstream adoption isn&#8217;t here yet, folks can now short the market, and blockchain competitors like EOS are gunning to be the top platform for developers.<\/p>\n<p>Lee meanwhile &#8220;believes sentiment is currently overly negative on ETH.&#8221; While it has underperformed its peers by two standard deviations, Lee said that&#8217;s &#8220;a sign of capitulation.&#8221;\u00a0<a href=\"https:\/\/atozcrypto.org\/gocrypto-trading-packages\/\"><img decoding=\"async\" class=\"size-medium wp-image-2508 alignright\" src=\"https:\/\/atozcrypto.org\/wp-content\/uploads\/2018\/07\/cryptocoin-to-HODL-244x300.png\" alt=\"\" width=\"244\" height=\"300\" srcset=\"https:\/\/atozcrypto.org\/wp-content\/uploads\/2018\/07\/cryptocoin-to-HODL-244x300.png 244w, https:\/\/atozcrypto.org\/wp-content\/uploads\/2018\/07\/cryptocoin-to-HODL.png 760w\" sizes=\"(max-width: 244px) 100vw, 244px\" \/><\/a><\/p>\n<p>The former J.P. Morgan Chief Equity Strategist said the cryptocurrency was &#8220;dogged&#8221; by a heavy supply being sold from EOS, which built its platform on ethereum then switched it to its own new token. Lee also highlighted questions about its blockchain technology&#8217;s road-map and &#8220;panic selling&#8221; by ICO teams.<\/p>\n<p>Ether\u00a0is the name of the cryptocurrency, but it&#8217;s closely associated with the popular Ethereum blockchain. Unlike bitcoin, which gives access to a global financial network, ether gives you access to a computer network. Its use has been compared to gasoline for a car, and developers can use ether tokens as\u00a0<a class=\"inline_asset\" href=\"https:\/\/www.ethereum.org\/ether\">fuel<\/a>\u00a0for certain functions on that blockchain. Crypto investors saw its &#8220;utility&#8221; as an opportunity, boosting the price above $1,100 in January. As of Thursday, it&#8217;s trading near $220, according to CoinDesk.<\/p>\n<p>Still, Lee said threats to ethereum include a &#8220;challenging technical picture&#8221; and according to the firm&#8217;s technical strategist Rob Sluymer, ETH is &#8220;firmly in a pronounced downtrend.&#8221;<\/p>\n<p><a href=\"https:\/\/atozcrypto.org\/simon-le-is-now-master-distributor-onelife-network\/\"><img decoding=\"async\" class=\"size-medium wp-image-2925 aligncenter\" src=\"https:\/\/atozcrypto.org\/wp-content\/uploads\/2018\/09\/simonle2-300x276.png\" alt=\"\" width=\"300\" height=\"276\" srcset=\"https:\/\/atozcrypto.org\/wp-content\/uploads\/2018\/09\/simonle2-300x276.png 300w, https:\/\/atozcrypto.org\/wp-content\/uploads\/2018\/09\/simonle2.png 586w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ether has lost 70 percent of its value this year but Wall Street\u2019s biggest crypto bull says it\u2019s \u201cabout to rally strongly.\u201d Fundstrat&#8217;s Tom Lee says the past four out of four times ether underperformed other cryptocurrencies by two standard deviations, it saw a&#8221;major trend reversal.&#8221; It was one of the best performing cryptocurrencies last &hellip;<\/p>\n","protected":false},"author":1,"featured_media":2941,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"pgc_meta":"","_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[16,15],"tags":[],"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Beaten-down cryptocurrency ether is about to &#039;rally strongly,&#039; says Wall Street&#039;s Tom Lee - AtoZcrypto<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/atozcrypto.org\/beaten-down-cryptocurrency-ether-is-about-to-rally-strongly-says-wall-streets-tom-lee\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Beaten-down cryptocurrency ether is about to &#039;rally strongly,&#039; says Wall Street&#039;s Tom Lee - AtoZcrypto\" \/>\n<meta property=\"og:description\" content=\"Ether has lost 70 percent of its value this year but Wall Street\u2019s biggest crypto bull says it\u2019s \u201cabout to rally strongly.\u201d Fundstrat&#8217;s Tom Lee says the past four out of four times ether underperformed other cryptocurrencies by two standard deviations, it saw a&#8221;major trend reversal.&#8221; It was one of the best performing cryptocurrencies last &hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/atozcrypto.org\/beaten-down-cryptocurrency-ether-is-about-to-rally-strongly-says-wall-streets-tom-lee\/\" \/>\n<meta property=\"og:site_name\" content=\"AtoZcrypto\" \/>\n<meta property=\"article:published_time\" content=\"2018-09-28T19:56:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-09-28T19:59:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/atozcrypto.org\/wp-content\/uploads\/2018\/09\/Lee.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"530\" \/>\n\t<meta property=\"og:image:height\" content=\"298\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"AtoZcrypto\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"AtoZcrypto\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/atozcrypto.org\/beaten-down-cryptocurrency-ether-is-about-to-rally-strongly-says-wall-streets-tom-lee\/\",\"url\":\"https:\/\/atozcrypto.org\/beaten-down-cryptocurrency-ether-is-about-to-rally-strongly-says-wall-streets-tom-lee\/\",\"name\":\"Beaten-down cryptocurrency ether is about to 'rally strongly,' says Wall Street's Tom Lee - AtoZcrypto\",\"isPartOf\":{\"@id\":\"https:\/\/atozcrypto.org\/#website\"},\"datePublished\":\"2018-09-28T19:56:08+00:00\",\"dateModified\":\"2018-09-28T19:59:50+00:00\",\"author\":{\"@id\":\"https:\/\/atozcrypto.org\/#\/schema\/person\/4385199dcdeec6bd69b0fb4158673b0b\"},\"breadcrumb\":{\"@id\":\"https:\/\/atozcrypto.org\/beaten-down-cryptocurrency-ether-is-about-to-rally-strongly-says-wall-streets-tom-lee\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/atozcrypto.org\/beaten-down-cryptocurrency-ether-is-about-to-rally-strongly-says-wall-streets-tom-lee\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/atozcrypto.org\/beaten-down-cryptocurrency-ether-is-about-to-rally-strongly-says-wall-streets-tom-lee\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/atozcrypto.org\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Beaten-down cryptocurrency ether is about to &#8216;rally strongly,&#8217; says Wall Street&#8217;s Tom Lee\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/atozcrypto.org\/#website\",\"url\":\"https:\/\/atozcrypto.org\/\",\"name\":\"AtoZcrypto\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/atozcrypto.org\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/atozcrypto.org\/#\/schema\/person\/4385199dcdeec6bd69b0fb4158673b0b\",\"name\":\"AtoZcrypto\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/atozcrypto.org\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/e2c8254f59dd013c234edbb46471dfe8?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/e2c8254f59dd013c234edbb46471dfe8?s=96&d=mm&r=g\",\"caption\":\"AtoZcrypto\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Beaten-down cryptocurrency ether is about to 'rally strongly,' says Wall Street's Tom Lee - AtoZcrypto","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/atozcrypto.org\/beaten-down-cryptocurrency-ether-is-about-to-rally-strongly-says-wall-streets-tom-lee\/","og_locale":"en_US","og_type":"article","og_title":"Beaten-down cryptocurrency ether is about to 'rally strongly,' says Wall Street's Tom Lee - AtoZcrypto","og_description":"Ether has lost 70 percent of its value this year but Wall Street\u2019s biggest crypto bull says it\u2019s \u201cabout to rally strongly.\u201d Fundstrat&#8217;s Tom Lee says the past four out of four times ether underperformed other cryptocurrencies by two standard deviations, it saw a&#8221;major trend reversal.&#8221; It was one of the best performing cryptocurrencies last &hellip;","og_url":"https:\/\/atozcrypto.org\/beaten-down-cryptocurrency-ether-is-about-to-rally-strongly-says-wall-streets-tom-lee\/","og_site_name":"AtoZcrypto","article_published_time":"2018-09-28T19:56:08+00:00","article_modified_time":"2018-09-28T19:59:50+00:00","og_image":[{"width":530,"height":298,"url":"https:\/\/atozcrypto.org\/wp-content\/uploads\/2018\/09\/Lee.jpg","type":"image\/jpeg"}],"author":"AtoZcrypto","twitter_card":"summary_large_image","twitter_misc":{"Written by":"AtoZcrypto","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/atozcrypto.org\/beaten-down-cryptocurrency-ether-is-about-to-rally-strongly-says-wall-streets-tom-lee\/","url":"https:\/\/atozcrypto.org\/beaten-down-cryptocurrency-ether-is-about-to-rally-strongly-says-wall-streets-tom-lee\/","name":"Beaten-down cryptocurrency ether is about to 'rally strongly,' says Wall Street's Tom Lee - AtoZcrypto","isPartOf":{"@id":"https:\/\/atozcrypto.org\/#website"},"datePublished":"2018-09-28T19:56:08+00:00","dateModified":"2018-09-28T19:59:50+00:00","author":{"@id":"https:\/\/atozcrypto.org\/#\/schema\/person\/4385199dcdeec6bd69b0fb4158673b0b"},"breadcrumb":{"@id":"https:\/\/atozcrypto.org\/beaten-down-cryptocurrency-ether-is-about-to-rally-strongly-says-wall-streets-tom-lee\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/atozcrypto.org\/beaten-down-cryptocurrency-ether-is-about-to-rally-strongly-says-wall-streets-tom-lee\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/atozcrypto.org\/beaten-down-cryptocurrency-ether-is-about-to-rally-strongly-says-wall-streets-tom-lee\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/atozcrypto.org\/"},{"@type":"ListItem","position":2,"name":"Beaten-down cryptocurrency ether is about to &#8216;rally strongly,&#8217; says Wall Street&#8217;s Tom Lee"}]},{"@type":"WebSite","@id":"https:\/\/atozcrypto.org\/#website","url":"https:\/\/atozcrypto.org\/","name":"AtoZcrypto","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/atozcrypto.org\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/atozcrypto.org\/#\/schema\/person\/4385199dcdeec6bd69b0fb4158673b0b","name":"AtoZcrypto","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/atozcrypto.org\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/e2c8254f59dd013c234edbb46471dfe8?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/e2c8254f59dd013c234edbb46471dfe8?s=96&d=mm&r=g","caption":"AtoZcrypto"}}]}},"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/atozcrypto.org\/wp-json\/wp\/v2\/posts\/2940"}],"collection":[{"href":"https:\/\/atozcrypto.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/atozcrypto.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/atozcrypto.org\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/atozcrypto.org\/wp-json\/wp\/v2\/comments?post=2940"}],"version-history":[{"count":4,"href":"https:\/\/atozcrypto.org\/wp-json\/wp\/v2\/posts\/2940\/revisions"}],"predecessor-version":[{"id":2945,"href":"https:\/\/atozcrypto.org\/wp-json\/wp\/v2\/posts\/2940\/revisions\/2945"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/atozcrypto.org\/wp-json\/wp\/v2\/media\/2941"}],"wp:attachment":[{"href":"https:\/\/atozcrypto.org\/wp-json\/wp\/v2\/media?parent=2940"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/atozcrypto.org\/wp-json\/wp\/v2\/categories?post=2940"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/atozcrypto.org\/wp-json\/wp\/v2\/tags?post=2940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}