Tom Lee: Crypto Market May Be Bottoming, Ethereum Has Seen 7 >60% Pullbacks Over Past 8 Years with V-Shaped Recoveries
BlockBeats News, February 9th, Tom Lee, Chairman of Ethereum Treasury Company BitMine, stated in an interview with CNBC that 「Over the past eight years, Ethereum has experienced 7 retracements of more than 60%. The good news is that all 7 times have seen a V-shaped recovery. This means a waterfall decline followed by a rapid recovery.
If the crypto market is currently bottoming out, as current signs seem to suggest, especially considering MicroStrategy's approximately 25% rebound, historical experience indicates that this type of recovery often takes a V-shaped structure. This means that as fast as we fall, we often recover at a similar speed.」
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