Scan to Download Gate App
qrCode
More Download Options
Don't remind me again today

Tom Lee: It may take 6 to 8 weeks to repair the impact on the market caused by market makers facing a funding gap.

robot
Abstract generation in progress

On November 16, Tom Lee, chairman of the board of Bitmine, the first Holdings institution in Ethereum, responded to a user inquiry about “how long it would take for the market to recover if one or two market makers experience a funding gap” by stating, “It may take 6–8 weeks, relief may come after Thanksgiving (November 27).” Previously, Tom Lee indicated, “There are currently signs of weakness in the crypto market, with one or two market makers' balance sheets showing significant 'gaps.' Sharks are hunting, intending to trigger liquidations and dumping BTC. Is this pain short-term? Yes. Will it change ETH's Supercycle (i.e., Wall Street building an ecosystem on Blockchain)? No. But now is not the time to use leverage; don't get liquidated.”

ETH-2.5%
BTC-1.64%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)