Tom Lee: Ethereum has experienced 7 V-shaped rebounds with over 60% retracements within 8 years

On February 9th, Tom Lee, Chairman of Bitmine, an Ethereum treasury company, stated in an interview with CNBC that Ethereum has experienced 7 retracements of over 60% in the past 8 years, all of which have shown V-shaped rebounds, meaning rapid recovery after a waterfall decline. He believes that the cryptocurrency market may be bottoming out and points out that MicroStrategy's recent rebound of about 25% may be a similar sign.