Bitmine Chair Predicts Market Recovery Following Thanksgiving

Tom Lee, Chairman of Bitmine, offers insights into the current crypto market weakness. He suggests a potential recovery within six to eight weeks, possibly easing after Thanksgiving on November 27th. This prediction comes as Lee acknowledges concerning financial gaps in the balance sheets of several market makers, leading him to warn about sharks attempting to trigger liquidations and drive down Bitcoin prices. Despite these short-term challenges, Lee remains confident that Ethereum’s long-term growth trajectory will continue, citing Wall Street’s ongoing investment in a blockchain ecosystem. He advises against using leverage to avoid potential liquidation risks during this period of market uncertainty.