BitMinen chairman Tom Lee stated that the stock market is at the bottom and expects a price rally back to new record highs.

Lee shared his views in an interview with CNBC. He argued that the recent price developments and the easing of the war support recovery.

The war's tolerance refers to the bottom of the stock market

Lee referred to last week's trading as a significant turning point. Stock prices remained stable even as the war intensified and oil prices rose. In his opinion, this is a good starting point.

“I believe the bottom has been reached… because last week was a period when the war escalated and oil prices rose, but stocks did not decline,” Lee noted.

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Signs of a calming situation are observable, and Lee estimates that stocks are on their way back to record levels.

“I think we will reach the 7300 points we expected for this year,” he predicted.

Lee added that the markets have already gone through a phased bear market. First last year in energy and finance, and this year in Mag-7 companies and software. For this reason, about 70% of the S&P 500 index has already experienced a bear market cycle.

He viewed that, based on this background, a potential summer recession could be milder than feared, especially since the index has already dropped 8%.

“I believe that the inflation shock is still coming. The markets are expanding, and more and more investors plan to buy from the United States, as the U.S. has demonstrated its resilience during this war. Additionally, more is being earned in the U.S. during the war. Expansion means that the stocks of more American companies will rise,” he added.

BeInCrypto also reported that seasonality predicts a favorable outlook for stocks. The MSCI World Index has produced positive development 75% of the time in April over the last 25 years, with an average monthly increase of 2.0%, which is the best figure for the entire year.

This development has largely been supported by American stocks, which account for about 70% of the index. The S&P 500 index tells the same story; it has averaged a 1.3% increase in April since 1928, making it the second-best month of the year — only July has been stronger.