Tom Lee: Focus on opportunities amid gloomy crypto market

Tom Lee, chairman of Bitmine (BMNR), said the cryptocurrency market is going through a gloomy period. According to U.Today, he noted in an interview that investor sentiment is at its worst, with public indifference toward Bitcoin and Ethereum, declining Google search volumes, a record-low RSI, and a Fear & Greed Index that is worse than after the FTX collapse. However, Lee emphasized that extreme negative sentiment often precedes a rebound. He stressed the need to focus on opportunities in every bear market, adding that he has often seen prices fail to keep pace with strengthening fundamentals. Lee also identified the artificial intelligence (AI) boom as one of the main reasons for the crypto market's correction but pushed back against claims that crypto investment has collapsed. He added that blockchain is a necessary defense mechanism for a future dominated by artificial intelligence.