Tom Lee Sees Ethereum Under Pressure As Kospi Falls
Photo: Cointribune
Tom Lee, one of Ethereum’s most well-known advocates, foresees a difficult short-term period for ETH. His warning does not question his long-term bullish thesis: it concerns a possible contagion effect coming from the South Korean stock market. The Kospi index fell more than 6% during trading on October 13, under pressure from technology stocks and semiconductor manufacturers. Samsung Electronics and SK Hynix recorded losses close to or exceeding 8%. The extent of the movement pushed Korea Exchange to activate a “sidecar” seller. This mechanism temporarily suspends certain automated orders when futures experience excessive variation.
Source: Cointribune
