Big name investor predicts the crypto market
- Thread starter Pekelo
- Start date
Crypto market is already almost 50% off of it's high.Because crypto fans like to quote big names, so do I:
I agree with him on both counts. The market hasn't had a decent crash for a while and cryptos always follow the market. So if the market drops -15%, cryptos will take a -40% plunge at least...
Not a diversification in bearish times.
Baron
ET Founder
Back in Feb 14th - March 20th of 2020, the S&P tanked 32%. During that same time period, Bitcoin tanked 38%. So the outcomes weren't dramatically different. But even if we get a crash of that magnitude again, history taught us from before that it would be a massive buying opportunity.
we do not have real history for cryptos. Its “fake” ATH was reached with unprecedented help of Tethers. If crash comes, and no fake stable coins are used to help price back up, then we will truly see its worth and resilience.
before March crash, BTC high was around 13.5 and March low a bit higher than 4K. So it lost around 60%, if memory serves me right.
Oh wow, not Micheal Burry! If Micheal Burry says it's going to crash then it must be true!
like OP said, he just uses a big name who is negative. Obviously only future will tell
Yes sir!
..that Tesla is a store of value. Until it doesn't. It is just silly to think this thing will go up forever.
For what it's worth, keep in mind Burry was way early on his housing call and almost imploded as a result. You can make the call but timing it right is critical.