{"id":63800,"date":"2022-07-01T17:59:58","date_gmt":"2022-07-01T14:59:58","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=63800"},"modified":"2025-09-06T10:56:30","modified_gmt":"2025-09-06T07:56:30","slug":"the-big-short-hero-predicted-further-bitcoin-price-decline","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/the-big-short-hero-predicted-further-bitcoin-price-decline\/","title":{"rendered":"The Big Short hero predicted further Bitcoin price decline"},"content":{"rendered":"<p>The investor Michael Burry, who predicted the 2007 mortgage crisis, conceded that the current market situation is the midpoint of a bear cycle for Bitcoin.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Adjusted for inflation, 2022 first half S&amp;P 500 down 25-26%, and Nasdaq down 34-35%, Bitcoin down 64-65%. <br \/>That was multiple compression. Next up, earnings compression. So, maybe halfway there.<\/p>\n<p>\u2014 Cassandra B.C. (@michaeljburry) <a href=\"https:\/\/twitter.com\/michaeljburry\/status\/1542603312867905538?ref_src=twsrc%5Etfw\">June 30, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The investor who provided the prototype for the film &#8216;The Big Short&#8217; believes that Bitcoin could continue to fall.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cAdjusted for inflation, in the first half of the year the S&amp;P 500 fell by 25\u201326%, Nasdaq by 34\u201335%, Bitcoin by 64\u201365%. That was multiple compression. Next came earnings compression. So maybe, halfway there,\u201d wrote Burry.<\/p>\n<\/blockquote>\n<p>A popular Twitter DeFi researcher using the pseudonym FatManTerra commented on his post with pessimism:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cSome things are better left unsaid. I do not recommend more stories like these, for the sake of the people, our industry (and your business).\u201d<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">somethings are better left unsaid. Recommend no more news like these, for the sake of the people, our industry (and your business).<\/p>\n<p>\u2014 FatMan (@FatManTerra) <a href=\"https:\/\/twitter.com\/FatManTerra\/status\/1542603780449001478?ref_src=twsrc%5Etfw\">June 30, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Regarding Burry&#8217;s business, users reminded that the investor specializes in short positions. In October 2021 he <a href=\"https:\/\/u1f987.com\/en\/news\/the-big-short-figure-weighs-the-prospect-of-shorting-cryptocurrencies\">became interested<\/a> in the possibility of shorting cryptocurrencies.<\/p>\n<p>Burry was among the first to predict the collapse of the US mortgage market. He bet the entire funds of his hedge fund Scion Capital against mortgage-backed CDOs and managed to profit from the crisis.<\/p>\n<p>In 2015, the film based on American writer and journalist Michael Lewis&#8217;s book recounting those days, &#8216;The Big Short,&#8217; was released. Christian Bale played Burry.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/3Qd6AzqHkHTRccjb8HVxSlRL7ZD7UXGLkolN6e647XCym8wNGvS-7OR7aJ2h2wltmWtAi4ZKSUwfxN_tdTlf3uqPHfNkcLI7dK_87-kRQIqkVPxRGzwsbR64EUHYOYEcjJ_6tJT-D8S530aPCg\" alt=\"The Big Short hero predicted a further Bitcoin price decline\"\/><figcaption>Bale as Burry. Data: Streaming Craze.<\/figcaption><\/figure>\n<p>Arcane Research notes that Bitcoin&#8217;s drawdowns in past market cycles <a href=\"https:\/\/u1f987.com\/en\/news\/analysts-foresee-bitcoin-price-dropping-to-10350\">remain<\/a> at the $10,350 mark.<\/p>\n<p>Deutsche Bank strategists say that cryptocurrency prices could rise to $28,000 <a href=\"https:\/\/u1f987.com\/en\/news\/deutsche-bank-forecasts-bitcoins-return-to-28000\">by year-end<\/a> on the back of a recovery in the Nasdaq 100 and the S&amp;P 500.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news on our Telegram \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The investor Michael Burry, who predicted the 2007 mortgage crisis, conceded that the current market situation is the midpoint of a bear cycle for Bitcoin.<\/p>\n","protected":false},"author":1,"featured_media":63801,"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":[1146],"class_list":["post-63800","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-market-forecasts"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63800","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=63800"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63800\/revisions"}],"predecessor-version":[{"id":63802,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63800\/revisions\/63802"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/63801"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=63800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=63800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=63800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}