Investor Michael Burry Tweeted “Sell.” Traditional financial investors and crypto investors alike are left wondering what it could mean.
Michael Burry is well-known for predicting the 2008 subprime mortgage crisis and the subsequent Great Recession.
Investors and crypto speculators are perplexed by Michael Burry's Tweet, with some fearing that a market dump is around the corner.
Investor Michael Burry tells his Twitter followers to "sell" their positions
Michael Burry known also as "Cassandra B.C." on Twitter removed all their previous Tweets and left only their recent “Sell.” The original Tweet has since been replaced.
Cryptocurrency traders and stock traders are left puzzled by Burry’s Tweet, believing that he's playing a joke on everyone or that there is more to his Tweet than meets the eye.
- Read more: Will Bitcoin go back up? Let's find out!
Burry is known for being ahead of global markets and making risky trades in anticipation of strong market movements.
From 2000 to 2008 Michael Burry ran his hedge fund Scion Capital before deciding to close the company down after foreseeing the Great recession.
Although inflation is running rampant across the U.S. some traditional stocks are performing well under the pressure of the economy.
Despite the current crypto bear market Bitcoin has been rallying for the last 30 days from $16,000 to highs of $24,000, surprising the whole market.
Seasoned crypto traders are unfazed by Bitcoin’s recent climb and are waiting for BTC’s possible eventual fall back under $20,000. Others believe Bitcoin’s rally could signify that an end to the bear market is near, but nobody knows for sure.
Time will tell whether those who followed Michael Burry's advice to liquidate their stock or cryptocurrency holdings were correct in doing so.
- Read more: Crypto miners hold onto profits as Bitcoin miner sales hit multi-year low
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