Summary
- Jack Lee, founder of LD Capital, said the 60-day bearish phase of the virtual asset market could soon end.
- He emphasized that multiple negative factors, such as the 1011 large-scale liquidation incident and Japanese interest rate hikes, were the causes of the recent weakness.
- The founder said that expectations of rate cuts and virtual asset-friendly policies could be catalysts for a shift in market sentiment and upward momentum.
There is a prospect that virtual assets (cryptocurrencies) could emerge from a long correction.
On the 3rd (Korean time), Jack Lee, founder of LD Capital, said on X (formerly Twitter), "Bitcoin (BTC) reached $93,000," adding, "the virtual asset market's 60-day bearish phase may soon end."
The founder said, "The past 60 days of weakness were the result of overlapping negative factors such as the '1011 large-scale liquidation incident', Japanese interest rate hikes, and a government shutdown," and added, "If a Securities and Exchange Commission (SEC) chair who is friendly to virtual assets, along with a Federal Reserve (Fed) chair who is friendly to virtual assets, is nominated, market sentiment could turn."
He continued, "Most of the negative factors have now been largely digested," adding, "expectations of rate cuts and virtual asset-friendly policies could act as positive factors at the same time."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.![[Market] Bitcoin falls below $82,000...$320 million liquidated over the past hour](https://media.bloomingbit.io/PROD/news/93660260-0bc7-402a-bf2a-b4a42b9388aa.webp?w=250)
