Tom Lee: Today's decline was expected; a pullback is a good buying opportunity

ChainCatcher message, Tom Lee, Chairman of BitMine, the largest institutional holder on Ethereum, commented on today's market crash: "The decline was expected, as we have seen a 36% increase since the low in April. Today's panic index VIX rose by 29% at one point, marking the 51st largest single-day volatility in history, falling into the top 1% of extreme market conditions.

Today's drop is a good shakeout. What I want to tell everyone is that the market is indeed a bit nervous, but unless there is a real structural change, this pullback is a buying opportunity. I cannot say that the market has bottomed today, but we know that under the current circumstances, the performance over the next week or even month will be good. If someone asks me how the market will perform in a week, I would say the probability of an increase is quite high."