'Big Short' Michael Burry admits his bearish call was wrong, but is it bullish? michaelburry burry crypto bitcoin btc cryptocurrency eth ethereum $btc $eth
on his Twitter account, admitting that his call to sell in early February was wrong. As Burry explains in his next tweet, the markets have not seen such"buy the dip" generation since the 1920s.To illustrate his point of view, the analyst cites a chart from the Bloomberg terminal showing the S&P 500's average return following down days by year.
As can be seen from the chart, 2023 has already become the second best year for the dip-buying strategy, behind only 2020 at the moment."Congratulations," Burry concludes his admission.If in early February Burry's call was greeted by the crypto market with a rise of more than 2%, causing the analyst to delete his Twitter account, this time the reaction is less enthusiastic.
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