The post Big Bull Tom Lee Predicts When Bitcoin and Altcoins Might Recover – “Sharks Are Swarming” appeared on BitcoinEthereumNews.com. Commenting on the sharp declines in the cryptocurrency market in recent days, BitMine President Tom Lee said that the current weakness could be due to a “deficit” in the balance sheet of a large market maker or a few players. According to Lee, there are “sharks trying to trigger liquidation” in the market, and this is putting downward pressure on the price of Bitcoin in particular. Lee argued that this process is short-term, maintaining that Wall Street’s vision of an Ethereum-centric supercycle has not changed. He noted that the current volatility is more of a technical shakeup, adding that the long-term structure remains strong. Lee also issued a strong warning to investors against the use of leverage, stating that this environment is extremely vulnerable to “liquidation traps.” He said he expects the markets to recover in approximately 6-8 weeks. The price of Bitcoin has fallen 9.45% in the past month and is trading at $95,959 at the time of writing, down 23% from its all-time high. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/big-bull-tom-lee-predicts-when-bitcoin-and-altcoins-might-recover-sharks-are-swarming/The post Big Bull Tom Lee Predicts When Bitcoin and Altcoins Might Recover – “Sharks Are Swarming” appeared on BitcoinEthereumNews.com. Commenting on the sharp declines in the cryptocurrency market in recent days, BitMine President Tom Lee said that the current weakness could be due to a “deficit” in the balance sheet of a large market maker or a few players. According to Lee, there are “sharks trying to trigger liquidation” in the market, and this is putting downward pressure on the price of Bitcoin in particular. Lee argued that this process is short-term, maintaining that Wall Street’s vision of an Ethereum-centric supercycle has not changed. He noted that the current volatility is more of a technical shakeup, adding that the long-term structure remains strong. Lee also issued a strong warning to investors against the use of leverage, stating that this environment is extremely vulnerable to “liquidation traps.” He said he expects the markets to recover in approximately 6-8 weeks. The price of Bitcoin has fallen 9.45% in the past month and is trading at $95,959 at the time of writing, down 23% from its all-time high. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/big-bull-tom-lee-predicts-when-bitcoin-and-altcoins-might-recover-sharks-are-swarming/

                                                                               Lawmakers in the US House of Representatives and Senate met with cryptocurrency industry leaders in three separate roundtable events this week.                     Members of the US Congress met with key figures in the cryptocurrency industry to discuss issues and potential laws related to the establishment of a strategic Bitcoin reserve and a market structure.On Tuesday, a group of lawmakers that included Alaska Representative Nick Begich and Ohio Senator Bernie Moreno met with Strategy co-founder Michael Saylor and others in a roundtable event regarding the BITCOIN Act, a bill to establish a strategic Bitcoin (BTC) reserve. The discussion was hosted by the advocacy organization Digital Chamber and its affiliates, the Digital Power Network and Bitcoin Treasury Council.“Legislators and the executives at yesterday’s roundtable agree, there is a need [for] a Strategic Bitcoin Reserve law to ensure its longevity for America’s financial future,” Hailey Miller, director of government affairs and public policy at Digital Power Network, told Cointelegraph. “Most attendees are looking for next steps, which may mean including the SBR within the broader policy frameworks already advancing.“Read more