Tom Lee: Crypto Might Be Currently Bottoming, Selling Pressure is Gradually Easing

BlockBeats News, February 3rd, Tom Lee said on Monday in an interview with CNBC's "Squawk Box" that the selling pressure in the crypto market may be losing steam.

“All the conditions are in place, and cryptocurrency may be bottoming at the moment,” Lee said, adding that he believes the fundamentals of the crypto industry are still strong, especially highlighting the increasingly active activities on the Ethereum network. “If that's the case, cryptocurrency prices should logically rebound,” Lee said.

At the time of writing, Ethereum has bounced back over 10% from its earlier bottom price of $2157 to now trade at $2383.