Tom Lee: We Are at the Beginning of a New Bull Market

BlockBeats News, August 27th, BitMine's board chairman Tom Lee recently stated in a live interview with amit that "we are at the beginning of a new bull market. When I say this is a new bull market, it doesn't mean we haven't experienced an early-stage risk adjustment. That is, during the period from February to April this year, many people cleared their positions. However, we have not yet seen the impact of two positive factors:

First, if the Fed shifts to a dovish stance, it will bring some positive market expectations;

Second, the U.S. ISM index has been below 50, indicating that the economy has not truly entered an expansion phase. Only when this index rises above 50 and the Fed starts cutting interest rates, can we truly see the arrival of a bull market.

By then, not only will the manufacturing industry recover, but the development of artificial intelligence and the reduction of mortgage rates will also further drive the market upward. So, 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 risk reduction, as at that time, there was high volatility and great uncertainty. In general, when institutional investors face these conditions, they are unable to buy—when there is a lack of visibility and high market volatility, they tend to de-risk.