'Big short' investor Michael Burry dumped the majority of his multi-million dollar portfolio in Q2. Experts are weighing in on whether this means potential trouble for crypto as well.
, especially in relation to macroeconomic events such as Federal Reserve interest rate hikes and the Russian/Ukraine conflict, Burry’s bearish outlook on stocks may also be a warning sign for the crypto sector.
Greenspan stated that it's near impossible to predict the time and scale of crashes, and suggested that there is generally always something bearish on the horizon that could potentially send stock and crypto prices crashing. He also stressed that investors shouldn’t jump at every piece of FUD that circulates online, noting that “investing is a long-term play and doesn't normally work out for people who jump at shadows.”
“I take notice when Michael Burry is a bear and right now he is a huge bear. By liquidating the positions in his portfolio, save one, he is putting his money where his mouth has been: out of the market.”
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