Tom Lee: Cryptocurrency Will Be the Most FOMO-Inducing Asset by Year-End

In an interview with CNBC, Tom Lee, chairman of Bitmine, stated that if the Federal Reserve maintains interest rates in September, the U.S. stock market could see a strong rebound. The Federal Reserve meeting on September 15 will be a potential turning point. He believes that the market has already priced in some expectations of interest rate hikes, and the seasonal weakness and concerns in September could lead to an upside surprise. Tom Lee is optimistic about cryptocurrencies, asserting that Bitcoin's recent surge is the first phase of an upward trend. He expects institutional allocations to strengthen in the fourth quarter, predicting that by September and before the end of the year, cryptocurrencies, especially Ethereum, will become the most FOMO-inducing assets.

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