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Speaking to CNBC, Tom Lee, Head of Research and Chief Investment Officer at Fundstrat, shared his latest expectations regarding the Fed’s September policies and global markets.
Noting that September has historically been a weak month for markets and highlighting uncertainties regarding interest rate scenarios, Lee argued that, contrary to general expectations, markets could spring an upside surprise.
The renowned analyst stated that the FED meeting on September 15th is a critical turning point, and that if the central bank does not make any changes to interest rates, the stock markets could trigger a very strong rally.
He suggested that a major correction might be postponed until October, or that stocks could experience a limited pullback after rising above the 8,000-point level in the S&P 500 index.
Lee argued that the periodic slowdown in the cryptocurrency market (“crypto winter”) was quite shallow and is nearing its end, reminding that crypto assets became the best-performing macro asset class in the third quarter of the year.
Lee, pointing to institutional investors turning to crypto stocks, argued that investor interest would quickly return as the 4-year crypto cycle comes to an end in the coming days.
The analyst pointed out that regulatory changes could be the biggest catalyst for the sector, stating the following:
“If the CLARITY Bill passes Congress this year, <a href="https://xpertsstudio.com/billionaire-says-bitcoin-is-not-a-real-asset-has-no-link-to-gold/” title=”Billionaire says Bitcoin is not a real asset, has no link to gold”>Bitcoin and Ethereum will have an extremely strong and massive fourth quarter.”
*This is not investment advice.
Source: cryptonews.net
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