US investor Michael Burry, who knew beforehand the crisis in 2008, which is the subject of the Big Short movie, deleted the one-word “sell” tweet yesterday and closed his account. The crisis oracle had previously said they were “nonsense” about SHIB and DOGE.
Michael Burry, surprised by his SHIB prediction, deleted all his tweets and closed his Twitter account
The legendary investor simply wrote “sell” in his tweet before the FOMC meeting last night. While it’s impossible to fully understand what he meant, he may have voiced concern among market watchers ahead of Wednesday’s Fed rate decision. But after Fed Chairman Jerome Powell acknowledged that the central bank is making progress in its fight against inflation, traders opted for the “buy” side. The S&P 500 Index closed the day up more than 1%. The cryptocurrency market peaked around 3%.
cryptocoin.com As we have reported, the Fed increased its interest rate decision by 25 basis points last night. Chairman Jerome Powell said, “Monetary policy needs to remain restrictive for a while longer. Although inflation has slowed recently, it remains high.”
What did Michael Burry mean?
Burry’s “sell” message came just hours before the Federal Reserve announced its latest interest rate decision and President Jerome Powell’s highly anticipated press conference. While some market watchers argue that a new bull market has begun, and many investors are betting that the worst of inflation is over, which will prompt the Fed to slow or halt rate hikes and boost stocks, Burry disagrees.
Burry, founder of hedge fund Scion Asset Management, said that since 2019, stock and bond markets have been in bubble territory and are close to collapse. He believes the rise of passive investing, a long-term buy-and-hold strategy that emphasizes constant flow into index funds and ETFs, is fueling massive overvaluation in the stock market that will eventually reverse. He had warned before when this happened: “It will be ugly.”
Finding SHIB and DOGE pointless, Burry causes speculation with his latest move
Burry’s decision to delete his Twitter account after posting his cryptic market forecast left people wondering what he was thinking. While some think that he deleted his account to avoid the reaction of bull investors, others think that he may have lost interest in social media because he deleted his account and all of its content many times before. While Jerome Powell says he won’t stop the rate hike cycle, some analysts think the regulator’s move is dovish. Even if the Fed continues to raise interest rates by 25 basis points, the market is likely to continue its uptrend unless unexpectedly bad macroeconomic data emerges.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.