Is This a Crypto Winter? Burry Says $50K, Tiger Says No

Michael Burry, the investor who predicted the 2008 financial crisis, warned Monday that Bitcoin’s sharp decline could trigger a cascade of forced selling across multiple asset classes. With Bitcoin down 40% from October highs and altcoins collapsing 20-40% since the January FOMC meeting, the question dominating crypto markets is whether a full-blown crypto winter has arrived. Michael Burry Warns BTC Could Hit $50K In a Substack post, the “Big Short” investor estimated that up to $1 billion in precious metals were liquidated at the end of January as institutional investors and corporate treasurers rushed to cover crypto losses. “There is no organic use case reason for Bitcoin to slow or stop its descent,” Burry wrote source: https://beincrypto.com/is-this-a-crypto-winter-burry-says-50k-tiger-says-no/