Tom Lee: Every round of crypto winter brings someone who “rage-quit”
On September 11, 2026, Tom Lee, chairman of BitMine, said in an interview with Wealthion that each round of crypto winter typically has three common features: a sharp drop in prices, leverage being wiped out, and some investors “rage-quitting” due to severe losses. Recently, some well-known figures have publicly expressed that they’ve lost confidence in Bitcoin. In his view, this is precisely the kind of phenomenon that often appears near the bottom of past cycles. Although many people believe that the rebound over the past six weeks is merely a bull trap, based on technical price action, the crypto market may already have bottomed out.
Wu also noted that Tom Lee’s market outlook is often rather optimistic; his bullish targets may not be fulfilled, and actual market movement could differ significantly from his forecasts. He recommends focusing on the logic behind the analysis rather than using specific price targets and timing judgments as the basis for investment decisions.
Source: Wealthion
On September 11, 2026, Tom Lee, chairman of BitMine, said in an interview with Wealthion that each round of crypto winter typically has three common features: a sharp drop in prices, leverage being wiped out, and some investors “rage-quitting” due to severe losses. Recently, some well-known figures have publicly expressed that they’ve lost confidence in Bitcoin. In his view, this is precisely the kind of phenomenon that often appears near the bottom of past cycles. Although many people believe that the rebound over the past six weeks is merely a bull trap, based on technical price action, the crypto market may already have bottomed out.
Wu also noted that Tom Lee’s market outlook is often rather optimistic; his bullish targets may not be fulfilled, and actual market movement could differ significantly from his forecasts. He recommends focusing on the logic behind the analysis rather than using specific price targets and timing judgments as the basis for investment decisions.
Source: Wealthion