Odaily Planet Daily reports that Ethereum treasury company Bitmine Chairman Tom Lee stated in an interview that over the past 8 years, Ethereum has experienced 7 drawdowns of more than 60%, and each of these declines was followed by a rapid recovery. He pointed out that these movements typically involve a sharp decline followed by a quick rebound.
Tom Lee also mentioned that if the current crypto market is in a bottoming phase, there is a possibility based on some market performances, and he cited Strategy’s recent approximately 25% rebound as one of the factors to watch. He said that historical experience shows that such recoveries often feature relatively quick repairs. (CNBC)
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