BitMine Chairman is bullish on BTC reaching a new all-time high, but US stocks first fluctuate and pull back?

Question

【Crypto World】BitMine Chairman Tom Lee recently shared his outlook on the future of Bitcoin. He believes BTC has the potential to hit a new all-time high this year, but only after going through a market correction—US stocks may first pull back by about 15% to 20%.

His reasoning is quite interesting. Lee pointed out that the current dovish stance of the Federal Reserve will ultimately support a strong market finish. In other words, short-term volatility is inevitable, but from a policy perspective, an easy monetary environment is a long-term positive for risk assets (including the crypto market).

This view reflects a common market sentiment: ample macro liquidity usually drives the rise of alternative assets like BTC. However, the expectation of a pullback in US stocks also reminds us that a period of increased volatility may follow.

BetterLuckyThanSmart · Accepted Answer

The correction in US stocks is actually the main course, and the recent surge in BTC is the real treat... Lee's rhetoric I've heard countless times, always saying "short-term volatility is unavoidable," and then my account inevitably gets liquidated.

It's always liquidity or dovishness... why not just say betting on the Fed? That's all it boils down to.

15 to 20%? I bet five bucks it will be even more intense.

Tom Lee looks at everything and says it’s going up; I treat his predictions like weather forecasts.

Hitting new highs sounds great, but you only have a chance if it breaks below previous support levels... this logic is a bit backwards.

Loose and eco-friendly BTC, tight and eco-friendly BTC... I just ask, under what circumstances does BTC not go up?

Lee is really here to cut the leeks again.

The chairman is bluffing, and retail investors are going all-in... is this Web3?

Is the US stock market going to shake and correct first? I think BTC will make me shake back to the pre-liberation days first.

Alright, I’ll wait for this correction, then buy the dip... anyway, I say this every time, and I always get slapped in the face.

0xInsomnia · Answer

Do US stocks need to fall 15-20% before hitting a new high in BTC? That logic is a bit extreme. Retail investors will hold on first... Dovish and loose again, I feel like I've heard this explanation enough times.

TerraNeverForget · Answer

Tom Lee is bullish again. How many times have I heard this argument... Do US stocks need to drop 15-20% first to save BTC? I just want to ask where his stop-loss is.

BitMine Chairman is bullish on BTC reaching a new all-time high, but US stocks first fluctuate and pull back?

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