Tom Lee: Crypto Market May Be Forming a Bottom, Ethereum Has Seen 7 Occasions of >60% Drawdown in Past 8 Years with V-Shaped Recovery
BlockBeats News, February 9th, Tom Lee, Chairman of Ethereum Treasury Company Bitmine, stated in a CNBC interview, "In just the past eight years, Ethereum has experienced 7 drawdowns of over 60%. The good news is that all 7 of these have seen a V-shaped recovery. This means that there was a waterfall decline first, followed by a rapid recovery."
"If the crypto market is currently bottoming, which seems possible from the current signs, especially considering MicroStrategy's approximately 25% rebound, then historical experience shows that this type of rebound often takes on a V-shaped structure. This means that as fast as we fall, we often recover at a similar speed."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
The crypto industry needs a "reset" before the next bull market.
Trending news
MoreEli Lilly announced that its combination therapy of Taltz and Zepbound achieved the primary endpoint and all key secondary endpoints in a 36-week study period, with data showing that this combination therapy was statistically significantly superior to Taltz monotherapy.
Incyte presented the latest positive 54-week data on its investigational drug Povorcitinib for the treatment of hidradenitis suppurativa at the 2026 American Academy of Dermatology (AAD) Annual Meeting.
Crypto prices
More
