Michael Burry's official account michaeljburry no longer exists as the prominent fund manager decides to leave the platform after puzzling sell signal shared yesterday
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Burry's tweet, which consisted of a single word,"Sell," has been shared ahead of an immediate reversal in both cryptocurrency and traditional markets after the Federal Reserve's announcement of a 0.25% interest rate hike. Burry's tweet could have been a signal to investors to take profits, particularly in the overheated cryptocurrency market after the short-term reversal started in January, and to prepare for a potential market correction. His reputation as a hedge fund manager, who correctly predicted the 2008 housing crisis, added weight to his predictions, causing many investors to take notice.Bitcoin, the world's largest cryptocurrency by market capitalization, saw an increase of over 3.
Some analysts consider the regulator's action as dovish, despite Jerome Powell's stance on not halting the rate hike cycle. Regardless of a series of constant 25 basis point hikes, the market is likely to remain bullish as long as no unfavorable macroeconomic data is released unexpectedly.
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