TOM LEE JUST FLIPPED ULTRA BULLISH.
Tom Lee, Chairman of BitMine company, is holding around 5.93M ETH, believing crypto could enter an extremely bullish 12-month period.
His reasons are pretty simple, but they sound very crypto:
On 10/10 last year, the market saw more than $19B in leveraged positions liquidated after the shock of the USโChina tariff situation. According to Tom Lee, a large amount of leverage was wiped out, helping the market โresetโ significantly.
And if the 4-year crypto cycle is truly looking for a bottom, he says the bottom could appear as soon as next month. ๐
But the most bullish part is tokenization.
Tom Lee estimates that if around $100T worth of assets is brought onto the blockchain and generates a 1% yield, the system could produce about $1.1T in annual revenueโequivalent to around $20T in market opportunity if valued using traditional business models.
Meanwhile, BitMine currently holds 5.93M ETH but is taking about a $5B loss on its books.
Tom Lee: โCrypto is entering the most bullish 12 months.โ
His ETH bag: โBRO IโM DOWN $5 BILLION.โ ๐
I donโt know if this is a bottom signal or just one person trying to convince the market not to look at PnL.
Brothers and friendsโdo you think crypto is already close to the bottom of the 4-year cycle?
#Ethereum #crypto #bitcoin #BrainrotCrypto $ETH