Tom Lee Sees a Bull Market in the Binance Hack. Stablecoin Data Disagrees
BitMine Chairman Tom Lee says crypto’s muted response to the $6.3 billion Binance hack signals a bull market. However, stablecoin and sentiment data show money and confidence still leaving the market. Ethereum (ETH) traded at $2,254.11 at press time, down 1.71% over the past 24 hours, per BeInCrypto Markets. Against…
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Explained in this story
Bull market
A period in which prices in a financial market rise steadily and investor confidence is high.
Bull markets lift the value of savings and pensions invested in shares.
More about Bull marketCryptocurrency
A digital currency secured by cryptography and recorded on a blockchain, without a central bank issuing it.
Crypto prices are volatile, and governments are still deciding how to regulate it.
More about CryptocurrencyMore in Markets
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