Renowned American investor Michael Barry Predicting the 2008 financial crisis, he retracted a statement that told his Twitter followers to “sell”.
His bullish reversal follows years of predictions that financial markets will continue to hit new lows after peaking in 2021.
Will Barry turn bullish?
On Thursday, Barry relaunched his Twitter account — which he frequently deletes — for brevity. statement: “I was wrong to say sell.”
I was wrong when I said I was selling.
— Cassandra BC (@michaeljburry) March 30, 2023
On January 31st, Barry posted a one-word tweet telling his followers to “sell”, deleted his account Right after that. Since then, he has frequently reopened and deleted accounts to post other financial forecasts, including those related to the U.S. banking sector earlier this month.
March 12 – The day the Federal Reserve announced full relief to Silicon Valley bank depositors – Burry compared The situation of the 2000 and 2008 financial crises. “Money is printed. Because it works.”
The next day, Barry claimed The banking crisis could be “resolved very quickly” and the market saw no “real danger”. Said Federal Reserve Chairman Jerome Powell should have told the market ‘I don’t know’ at a press conference after the central bank raised the policy rate by another 25 basis points.
Known for frequently predicting financial disasters (his achievement not perfect), Barry followed his fix on Thursday Tweet Check his flip to bull mode. “Back in the 1920s, there was no BTFD generation like you,” he wrote, sharing a graphic depicting how average stock market returns have risen since the days they fell.
Back in the 1920s, there was no BTFD generation like you. congratulation. pic.twitter.com/iAGN0CqmjD
— Cassandra BC (@michaeljburry) March 30, 2023
When the Federal Reserve began announcing a program this month to provide additional liquidity to the banking sector, Bitcoin bulls celebrated a new form of money printing they called. BitMex co-founder Arthur Hayes Said Calling the central bank’s Bank Term Funding Program a “repackage” of yield curve control and quantitative easing, investors have come to “buy the pivot.”
After FTX collapsed in November, Burry advised Investors should stay away from the crypto sector and direct their investments towards gold instead.the price of gold is Rose Up about 10% since the beginning of the year, Bitcoin is up 69%.
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