Tom Lee, co-founder of Fundstrat and chairman of BitMine, suggests that despite the current cautious market sentiment, it is an opportune time to buy on dips. Lee attributes the market's caution to recent significant deleveraging in the crypto sector, concerns over a potential "cockroach crisis" in private credit, and the typical market volatility seen in October. He notes that negative sentiment often precedes a positive counter-trend, and with many fund managers underperforming benchmarks, there is likely to be a push for higher returns by year-end.
Tom Lee Advocates Buying Crypto Dips Amid Market Caution
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