Tom Lee: The market may be in a bottoming phase, with overall performance significantly exceeding expectations
BlockBeats news, on March 4, Tom Lee, Chairman of BitMine, an Ethereum treasury company, said in an interview with CNBC, "No one wants to see the United States involved in conflict. But it must be pointed out that the market's performance has been much more resilient than expected. I don't think anyone can assert that we've already hit the bottom, but it looks like a bottom is being formed—bad news keeps coming, yet the market is able to digest it and remain stable. More importantly, I believe positions have been significantly reset."
If you look back at last April, a simple signal was the VIX rising above 40. Last year it reached 80, but this time it may not go that high. Another signal is: if another panic news emerges, gold continues to fall, but the stock market turns upward on the same day, then it means the market has been cleared out. I think we are close to that stage.
We believe March is a period for bottom formation. The decline in software, Mag 7, and crypto assets has completed about 90%. They are outperforming the market, which is a sign of leadership. Even if global trade disruptions occur, you still need AI, and you still need Mag 7. The fundamentals of these companies remain strong. Investors need to stay patient and cautious, keeping some cash on hand. But I think opportunities are emerging."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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