Tom Lee: The decline was expected, and the probability of a rebound within a week is quite high
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Tom Lee: The decline was expected, and the probability of a rebound within a week is quite high
Tom Lee, Chairman of BitMine, commented on today's market flash crash during a CNBC program: "The decline was expected, as there had already been a 36% gain since the April low. Today, the VIX fear index surged by 29%, marking an extreme move in the top 1%. This sell-off serves as a healthy shakeout. I want to emphasize that while the market does feel somewhat nervous, unless there is a genuine structural shift, such pullbacks represent good buying opportunities. I can't say for sure that the market has bottomed today, but we know under current conditions, returns over the next week or even month tend to be quite strong. If someone asks me how the market will perform a week from now, I’d say the probability of an upward move is quite high."
Navigating Web3 tides with focused insightsTechFlow news, October 11 — Tom Lee, Chairman of BitMine, commented on today's market flash crash during a CNBC program: "The decline was expected, as we've already seen a 36% gain since the April low. Today, the fear index VIX surged by 29%, marking one of the top 1% extreme market moves. This sell-off is a healthy shakeout. I want to emphasize that while the market does feel nervous, unless there’s a genuine structural shift, this pullback represents a solid buying opportunity. I can't say for sure that the market has bottomed today, but we know under current conditions, returns over the next week or even month tend to be quite favorable. If someone asks me how the market will perform a week from now, I’d say the odds favor an upward move."
