Anticipating the 2007 mortgage crisis, investor Michael Burry acknowledged that the current market situation is the middle of a bearish cycle for bitcoin.

Having become the prototype of the hero of the movie “The Big Short”, the investor believes that the first cryptocurrency can continue to fall.

“Adjusted for inflation in the first half of the year, the S&P 500 fell 25-26%, the Nasdaq – 34-35%, bitcoin – 64-65%. There was multiple compression. Then there is the decrease in income. So maybe halfway through,” Burry wrote.

A DeFi researcher with the popular Twitter nickname FatManTerra gave a pessimistic comment to his post:

“Some things are better left unsaid. People, I’m not suggesting any more stories like this on behalf of our industry (and your business).”

As for Burry’s business, users reminded him that the investor specializes in short positions. He became interested in the possibility of revealing cryptocurrencies in October 2021.

Burry was one of the first to predict the collapse of the US mortgage market. He invested all the money of the hedge fund he founded, Scion Capital, in CDO mortgage bonds and was able to take advantage of the crisis.

In 2015, the movie “The Big Short”, adapted from the book of the American writer and journalist Michael Lewis about the events of those days, was shot. The role of Burry in it was played by Christian Bale.

Recall that Arcane Research researchers compared the declines of the first cryptocurrency over past market cycles. According to them, the bearish potential in bitcoin price continues up to the $10,350 level.

Deutsche Bank strategists believe cryptocurrency prices could rise to $28,000 by the end of the year as the Nasdaq 100 and S&P 500 indices recover.

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