{"id":44702,"date":"2021-06-21T16:09:53","date_gmt":"2021-06-21T13:09:53","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=44702"},"modified":"2025-08-31T18:14:05","modified_gmt":"2025-08-31T15:14:05","slug":"the-big-short-figure-warns-of-a-crash-in-the-cryptocurrency-market","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/the-big-short-figure-warns-of-a-crash-in-the-cryptocurrency-market\/","title":{"rendered":"The &#8216;Big Short&#8217; figure warns of a crash in the cryptocurrency market"},"content":{"rendered":"<p>Investor Michael Burry, who predicted the 2007 mortgage crisis, warned followers of a crash in the cryptocurrency market. At the time of writing, the tweet had been deleted.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"und\\\" dir=\\\"ltr\\\"><a href=\\\"https:\/\/t.co\/eZ9RmZt8Y9\\\">pic.twitter.com\/eZ9RmZt8Y9<\/a><\/p>\n<p>\u2014 Michael Burry Archive (@BurryArchive) <a href=\\\"https:\/\/twitter.com\/BurryArchive\/status\/1405603088375992323?ref_src=twsrc%5Etfw\\\">June 17, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cAll the noise and speculation do nothing but attract retail traders before the mother of all crashes. <span data-descr=\\\"upward trends\\\" class=\\\"old_tooltip\\\">Parabolas<\/span> will not pass by unscathed. When cryptocurrencies fall from trillions, or meme stocks fall from billions, losses for retail investors will reach the size of countries. History hasn\u2019t changed,\u201d wrote Burry.<\/p>\n<\/blockquote>\n<p>The investor also noted that the problem with the digital asset market lies in excessive leverage.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cIf you don\u2019t know how large the leverage in cryptocurrencies is, you don\u2019t know anything about cryptocurrencies,\u201d he emphasized.<\/p>\n<\/blockquote>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"und\\\" dir=\\\"ltr\\\"><a href=\\\"https:\/\/t.co\/HPe5WcC1OI\\\">pic.twitter.com\/HPe5WcC1OI<\/a><\/p>\n<p>\u2014 Michael Burry Archive (@BurryArchive) <a href=\\\"https:\/\/twitter.com\/BurryArchive\/status\/1405607164966756354?ref_src=twsrc%5Etfw\\\">June 17, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Earlier, Burry warned that the market had inflated \u201cthe biggest bubble in history.\u201d In his post he used the hashtag FlyingPigs360, which, according to <a href=\\\"https:\/\/markets.businessinsider.com\/news\/stocks\/big-short-michael-burry-twitter-return-biggest-market-bubble-ever-2021-6-1030524823\\\">Business Insider<\/a>, may be a nod to the adage: \u201cBulls make money, bears make money, but pigs get slaughtered.\u201d<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"und\\\" dir=\\\"ltr\\\"><a href=\\\"https:\/\/t.co\/Zk5mtabmkk\\\">pic.twitter.com\/Zk5mtabmkk<\/a><\/p>\n<p>\u2014 Michael Burry Archive (@BurryArchive) <a href=\\\"https:\/\/twitter.com\/BurryArchive\/status\/1404803548513280011?ref_src=twsrc%5Etfw\\\">June 15, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Burry was among the first to predict the collapse of the U.S. mortgage market. He bet the entire capital of his hedge fund Scion Capital against mortgage-backed securities (CDOs) and managed to profit from the crisis.<\/p>\n<p>In 2015, based on the book by American author and journalist Michael Lewis, which recounts those days, the film The Big Short was released. Christian Bale played Burry.<\/p>\n<p>On June 21, 2021, the price of the first cryptocurrency <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-price-falls-below-34000-2\"> fell below $34,000<\/a>, and Ethereum <a href=\"https:\/\/u1f987.com\/en\/news\/ethereum-price-falls-below-2000\"> fell below $2,000<\/a>.<\/p>\n<p>As noted in February, Burry said governments would stoke inflation and <a href=\"https:\/\/u1f987.com\/en\/news\/opinion-governments-could-crush-bitcoin\">begin to suppress gold and Bitcoin as competitors<\/a>.<\/p>\n<p>Read ForkLog\u2019s Bitcoin news on our <a href=\\\"\/\/telegram.me\/forklog\\\" target=\\\"\u201c_blank\u201d\\\" rel=\\\"\u201cnofollow\u201d noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investor Michael Burry, who predicted the 2007 mortgage crisis, warned followers of a crash in the cryptocurrency market.<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1138],"class_list":["post-44702","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=44702"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44702\/revisions"}],"predecessor-version":[{"id":44703,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44702\/revisions\/44703"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=44702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=44702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=44702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}