Bitcoin is expected to fall to 50000 dollars#BTC #BNB
Michael Burry, founder of Scion Asset Management and hedge fund manager known for predicting the housing crisis in 2008, shared a chart of Bitcoin on platform X comparing the current decline to the crash that occurred in 2021–2022, suggesting that the BTC currency could drop to lows of 50,000 dollars before finding a sustainable bottom.
In an earlier post on Thursday, Burry highlighted the similarities between BTC's drop from its peak in October at 126,000 dollars to around 70,000 dollars and the decline that occurred from late 2021 to mid-2022, where Bitcoin fell from around 35,000 dollars to below 20,000 dollars.
Matching it with current price levels and Bitcoin price predictions, the path of the previous cycle indicates risks towards lows of 50,000 dollars
Michael Burry, founder of Scion Asset Management and hedge fund manager known for predicting the housing crisis in 2008, shared a chart of Bitcoin on platform X comparing the current decline to the crash that occurred in 2021–2022, suggesting that the BTC currency could drop to lows of 50,000 dollars before finding a sustainable bottom.
In an earlier post on Thursday, Burry highlighted the similarities between BTC's drop from its peak in October at 126,000 dollars to around 70,000 dollars and the decline that occurred from late 2021 to mid-2022, where Bitcoin fell from around 35,000 dollars to below 20,000 dollars.
Matching it with current price levels and Bitcoin price predictions, the path of the previous cycle indicates risks towards lows of 50,000 dollars