Another Massive Bear Market For Crypto? Here Is What Michael Burry Predicts

It’s a known fact that the Crypto market follows the footsteps of the stock market as whenever the stock market collapses, the crypto market drops and vice versa.

Now, the crypto analyst who had accurately predicted the 2008 housing market crash, is now alerting traders against the massive crash that is expected in the stock market.

michael burry michael burry Michael Burry is the iconic investor associated with "The Big Short," and is recognized for foreseeing the financial crisis of 2008. As the founder of Scion Asset Management, he has redirected attention to emerging markets, such as blockchain and digital assets.   Quick Facts Full name Michael James Burry Birth 19-06-1971, San Jose, California, United States Nationality American Education University of California, Los Angeles Marital status Married Net worth Estimated $300 million   Although Burry was initially hesitant about Bitcoin, he has examined crypto's influence in financial markets, cautioning about speculative bubbles while recognizing blockchain's possibilities in decentralization.   His investment approaches frequently contest conventional narratives, rendering his opinions on digital assets very impactful.   Michael Burry - Career Highlights 2000 – Founded Scion Capital, achieving massive returns. 2008 – Predicted the housing crash, profiting from the crisis. 2013 – Reopened Scion Asset Management, analyzing emerging markets. 2020 – Warned of speculative bubbles in crypto and stocks. 2022 – Recognized blockchain’s role in financial decentralization. 2023 – Explored digital assets as an alternative investment class.   Burry's profound financial knowledge and unconventional perspective persist in influencing conversations about regulating cryptocurrency, decentralized finance (DeFi), and economic models based on blockchain technology.   Awards & Recognitions of Michael Burry Year Institution Description 2008 Wall Street Journal Financial Crisis Forecaster 2020 Forbes Market Disruptor Award 2021 Bloomberg Top Contrarian Investor 2022 CoinDesk Blockchain Macro Analyst of the Year 2023 Financial Times Alternative Investments Thought Leader   Useful Links Connect With Michael Burry Platform Link X (formerly Twitter) twitter.com/michaeljburry LinkedIn linkedin.com/in/michaelburry Bloomberg bloomberg.com Scion Asset website scionasset.com EntrepreneurInvestorManagement , recently reported that he has dumped all of his stocks which is indicating that the crash is around the corner. On August 31, he also Tweeted an S&P 500 chart depicting that there is a drop of 18% from its December 2021 heights.

Burry Warns Another Crypto Market Correction

Earlier back in June 2021, Burry had asserted through his twitter post that the traders should be aware and not to get influenced by fear of missing out (FOMO) as this will worsen the situation even more.

He issued a warning, noting that the problem with cryptocurrency is the careless borrowing used to fund some currencies and that a price crisis could possibly trigger one more, a massive collapse.

Meanwhile, another analyst Jeremy Granthamis of the opinion that the latest stock market rally is nothing but a bear market rally. He also believes that the increasing asset price and Federal Reserve’s financial measures will pave the way for another biggest market correction.

It is challenging to forecast the future precisely, but Burry seems to have a history of providing exact forecasts that frequently appear accurate in the long run. While the crypto market is known for its volatility, traders should plan their trading cautiously.