• BitMine Immersion Technologies chairman Tom Lee said Ethereum should top $5,000 by year-end, in Singapore on Friday.

• That was half the $10,000 year-end figure Lee called “conservative” when he also said Ethereum would trade “much higher” than that level within 12 months.

• His cycle target came down too, to “25,000 or 50,000 per token” from an illustrative $62,000 nine days earlier.

Ethereum (ETH) held above $2,400 on Saturday after BitMine Immersion Technologies (BMNR) chairman Tom Lee said the token should top $5,000 by year-end, half the level he called a “conservative target” more than a week ago.

Speaking at Token 2049 in Singapore on Friday, Lee, who is also co-founder and head of…