Tom Lee: The decline was expected, and the probability of an increase in the next week is quite high.
Jinse Finance reported that BitMine Chairman Tom Lee commented on today's market flash crash on CNBC: "The decline was expected, as there has already been a 36% increase since the April low. Today, the fear index VIX once surged by 29%, which is an extreme move in the top 1% of cases. Today's drop is a decent shakeout. What I want to tell everyone is that the market is indeed a bit tense, but unless there is a real structural change, this kind of pullback is a good buying opportunity. I can't say for sure that the market has bottomed today, but we know that under the current circumstances, the returns over the next week or even a month will be pretty good. If someone asks me how the market will perform a week from now, I would say the probability of an increase is quite high."
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.
You may also like
New York Federal Reserve Survey: Service Sector Price Increases Hit Fastest Pace Since 2022, Business Activity Index Drops to Lowest Since March
A survey released by the New York Fed on Friday shows that in October, sales prices for service sector firms increased at the fastest pace since 2022, with input costs remaining robust and supply conditions continuing to deteriorate. Businesses’ pessimism about the commercial outlook has significantly intensified, with the overall business activity index falling by 12 points from the previous month to minus 20.7, marking the weakest reading since March.

Raoul Pal Holds Bitcoin, Solana and Ethereum, but Calls One Wildly Undervalued
Ethos Technologies President Wang Lingke Reports Sale of $4.54 Million in Common Shares
Exclusive report - Boeing memorandum says sales chief McMullen will retire
