Michael Burry of 'The Big Short' says BTC will repeat 2022 crash scenario

Michael Burry, the real-life investor behind the film 'The Big Short,' has warned that Bitcoin will experience a crash similar to the 2022 bear market, CoinDesk reported. He pointed out that BTC's drop from $126,000 last October to its current level of around $70,000 shows a pattern very similar to the bear market that spanned from late 2021 to 2022. CoinDesk noted that during that previous downturn, BTC fell from the $35,000 level to below $20,000. Applying this ratio to the current price suggests BTC could see a further decline to the low $50,000s.