Tom Lee at Fundstrat is nowadays is recalled as the one which is never shy from making bold statements. While talking about the facts, he has always been straightforward on line. Yesterday, Tom Lee is once again seen on national television talking against the recent move made by the Federal Reserve on the hike in interest rates.
Lee does not agree with the current stock market sell-off being expressive of a huge incoming recession. Also, he also continues saying about traditional financial market future seems to be ugly and bleak.
He recently was also seen on Fast Money at CNBC; there Lee was queried about his bold bitcoin predictions. Whereas, he has to say that the premier asset will likely soar to more than $20K worth by the closure of 2018. Regarding this matter, Tom was also quoted commenting:
This year may not be that great, we hoped for a rally into year-end…it didn’t happen.
We have seen a majority of consistent readers is aware of the recent projecting revenue of Apple and its share prices are dipping significantly day by day. Therefore, this triggers a huge market sell-off.
With this topic, Lee believes that lots of things have appeared within the last few weeks. Probably, the most destructive was what the Fed undetermined the ongoing liquidity markets. This scenario makes the trading dynamics rougher than what it was.
The highlight says Lee remains not the only person to talk about the Fed. Watching out their recent questionable moves, even President Trump confronts that it was bad choices by Federal Reserve all over 2018. He continues that the Dow Jones along with the other markets was agonizing from hard bearish pressure.
This is the most dangerous time for the Fed to hike, the December hike shouldn’t have happened.
He continues elaborating the traditional stock market ongoing state. The Head at Fundstrat seems fast enough to outline about Fed. Moreover, this is an outcome of the previous interest rate hike, that Fed has primarily strained out investors to liquidate their stance and reflects shrinkage within the overall market as whole. Following which Tom Lee also mentions:
I think one of the structural shifts taking place globally is China’s contribution to global growth is actually shrinking relative to the U.S.
While observing the market, the economy at China also seems to be on the slide. At least, the gushing time that China experiences from past some months. However, this is the result of the premier smartphones shrinking sales that manufacture and generates within the country. Just the thing remaining is to see how the recent stock market drip off will influence the crypto industry at maximum.
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