Tom Lee Says He Believes Markets Have Bottomed, Citing Tight AI Market
Photo: TokenPost
BitMine Chairman Tom Lee said Monday, Nov. 2, that he believed markets had bottomed, pointing to continued tightness in artificial intelligence (AI) and crypto prices’ muted response to Binance’s $6.3 billion loss estimate. Lee said hedge fund managers often warn that buying during a decline is risky because prices may fall further. He said the AI market had no excess capacity, while political resistance to additional spending had slowed growth without creating a market peak. Binance estimated losses at $6.3 billion after its hot wallets were compromised Oct. 29. Lee said crypto prices fell very little after the breach.
Source: TokenPost
