Tom Lee: We are at the beginning of a new bull market

ChainCatcher news, August 27, BitMine Chairman Tom Lee recently stated during an amit live interview, "We are at the beginning of a new bull market. The reason I say this is not because we haven't gone through prior risk adjustments, which occurred from February to April this year when many people liquidated their positions. However, we have not yet seen the impact of two positive factors: first, if the Federal Reserve shifts to a dovish stance, it will bring some positive market expectations; second, the U.S. ISM index has remained below 50, indicating that the economy has not truly entered an expansion phase. Only when this index exceeds 50 and the Federal Reserve begins to cut interest rates can we really see the arrival of a bull market. At that time, not only will manufacturing recover, but the development of artificial intelligence and the reduction of mortgage rates will further drive the market upward. Therefore, from the perspective of institutional investors, this is indeed a new bull market."

Institutional investors believe that the low point in April this year was a period of forced de-risking, as there was high volatility and significant uncertainty at that time. Typically, when institutional investors face these conditions, they are unable to buy—when there is a lack of visibility and the market is highly volatile, they will de-risk.