Finance Expert Predicts Epic Market Crash In Full Swing
This is about to get ugly.
“The Big Short” investor Michael Burry, who is highly respected by investors, has warned that there is a cataclysmic collapse currently in full swing and has gone as far as saying it is guaranteed to happen.
Burry even hopped on social media and wrote, “Crypo crash. Check. Meme crash. Check. SPAC crash. Check. Inflation. Check. 2000. Check. 2008. Check. 2022. Check.”
According to Markets Insider, the benchmark S&P 500 index has slumped by 19% this year and Nasdaq has dropped a whopping 27%.
Furthermore the price of bitcoin has fallen an astounding 66% and currently sits BELOW $19,000. Bitcoin once nearly reached $69,000 at its all time high.
On Wednesday, Burry warned, “No, we have not hit bottom yet. Watch for failure, then look for the bottom,” refering to companies and funds that are bracing for rock bottom.
In early 2021, Burry said, “Fads today (#BTC, #EV, SaaS #memestocks) are like housing in 2007 and fiber/.com/comm/routers in 1999. On the whole, not wrong, just driven by speculative fervor to insane heights from which the fall will be dramatic and painful.”
Investors may have turned a quick buck on popular and sensationalized stock investments. Sadly however it looks like the party is officially over and the hangover is about to hit some investors very hard.
