Connect with us

Blockchain

Michael Burry Warns of the ‘Greatest Speculative Bubble of All Time’

Legendary investor, Michael Burry who once called out on the housing bubble is back saying markets are in the biggest bubble in history.

Published

on

Table of Contents

Rate this post

Legendary investor, Michael Burry who once called out on the housing bubble has posted yet another warning about speculative assets like cryptocurrencies and meme stocks in a now-deleted tweet.

Michael Burry Warns of the ‘Greatest Speculative Bubble of All Time’

After deleting all his tweets just over two months ago, investor Michael Burry is back saying markets are in the biggest bubble in history.

Tweeting the hashtag #FlyingPigs360, in reference to an old Wall Street phrase: “Bulls make money, bears make money, but pigs get slaughtered,” which is used as a caution against greed.

Burry has warned that investors are more greedy now, speculating unrealistically, and chasing unrealistic wild returns, pointing to the excessive leverage used in the cryptocurrency market.

READ  Ark Investment Invests $20 Million in Grayscale Ethereum Trust Shares

“People always ask me what is going on in the markets. It is simple. Greatest Speculative Bubble of All Time in All Things. By two orders of magnitude. #FlyingPigs360.” he tweeted

Back in early April, Michael Burry had deleted his Twitter account after flagging the Tesla stock, which he is short along with GameStop, Bitcoin, Dogecoin, Robinhood, SPACs, inflation, and the broader stock market. He resumed twitter tweeting again on June 14.

Burry Compared the Hype Around Bitcoin to the Dot-com and Housing Bubbles

Burry even compared the hype around Bitcoin, electric vehicles, and meme stocks to the dot-com and housing bubbles and said earlier this year that the stock market was “dancing on a knife’s edge.”

Burry is most known for spotting the mortgage crisis ahead of time and making a fortune against the U.S. housing bubble.

READ  Tron [TRX] Beats Bitcoin [BTC] in Number of Transactions Within 300 days of launch

Back in February, he joined the inflation debate, making a comparison to the 1970s period warning investors to brace for inflation while pointing to a boom in demand due to the fiscal stimulus being injected into the economy, saying:

“The U.S. government is inviting inflation with its MMT-tinged policies. Brisk Debt/GDP, M2 increases while retail sales, PMI stage V recovery. Trillions more stimulus & re-opening to boost demand as employee and supply chain costs skyrocket.” he tweeted in February.

#Crypto Market #Michael Burry #Speculative Bubble

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptoknowmics.com/news/michael-burry-warns-of-the-greatest-speculative-bubble-of-all-time

Blockchain

Bitcoin: Is The Bull Run Making A Comeback?

Bitcoin Bull Run

The post Bitcoin: Is The Bull Run Making A Comeback? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

Crypto had a good week, as bitcoin gained 15% and once broke the $40k. Bitcoin touching $40k again after 6 weeks brings hope to traders that the bull market will continue. But is it enough? Since May, bitcoin has entered a consolidation period after dropping 50% due to the China FUD and tighter restrictions from …

Published

on

Crypto had a good week, as bitcoin gained 15% and once broke the $40k.

Bitcoin touching $40k again after 6 weeks brings hope to traders that the bull market will continue. But is it enough?

Since May, bitcoin has entered a consolidation period after dropping 50% due to the China FUD and tighter restrictions from several countries.

Traders’ hope was getting weaker every day and the famous Stock-to-flow model that predicted BTC touching 100k by the end of 2021 was questioned by many traders. 

Bitcoin has had green flags since last week.

Bitcoin hit $32,000 last week after the chat between SpaceX and Tesla CEO Elon Musk, Square and Twitter CEO Jack Dorsey, and Ark Invest CEO Cathie Wood.

Musk shared some fresh updates of SpaceX’s crypto holding. In the bag BTC, ETH, and Dogecoin.

Tesla may soon accept BTC, again

On Monday, Bitcoin rose as far as 14% within 3 hours after the rumor that Amazon is planning to accept Bitcoin payments.

Major altcoins also rose with bitcoin, with ETH hitting a three-week high of $2,344. 

However, Amazon later denied the speculation, saying Amazon is interested in the crypto industry but isn’t planning on adopting it yet: 

“Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true.”

Bitcoin drops 5% to trade at $36k after the statement and the crypto market sees a sea of red. 

While many traders consider the recent gain as a sign of bullish momentum, indicators show that institutional investors are cashing out their money.

According to a report by CoinShares, institutional investors have been exiting crypto products in the past three weeks.

With trade volume remaining low and traders staying cautious, Bitcoin could struggle between $28,000-$43,000 for some time before finally making a move.

Bitcoin dropping below $28,000 or breaking $43,000 would provide good opportunities to trade. 

What strategies to adopt?

While waiting for the bull run, there are several strategies we could take.

Take advantage of ups and downs

Bitcoin: Is The Bull Run Making A Comeback?

Futures trading enables traders to profit off the ups and downs of the market.

Bexplus is a leading crypto derivatives trading platform offering 100x leverage futures trading on multiple pairs – BTC, ETH, LTC, Dogecoin, XRP, etc.

The Bexplus app is available on Bexplus website with a 100% bonus on a demo account and doesn’t require KYC.

Trusted by 800K traders in over 200 countries, Bexplus is a friendly and useful app available on Bexplus.

It provides a 100% bonus on a demo account and doesn’t Bexplus doesn’t require KYC.

Trusted by over 800k traders from 0ver 200 countries/regions. Bexplus is accredited by MSB (Money Services Business).

Improve your skills with a demo account

Successful traders are those who learn to analyze the market and could always keep a clear head. The best way to improve your skills and mindset is by practicing in the free demo account

Every user is given 10 BTC at the beginning and they are replenishable, so you can try out different strategies as much as you like. 

Make A Deposit And Claim Bonuses

No deposit fee is needed. You can start your deposit at 0.001 BTC. Bexplus supports Bitcoin, ETH, etc, as well as USD, EUR, and GBP deposits. 

To help traders earn more profits, Bexplus offers a 100% deposit bonus to every trader.

Deposit 1 BTC and you will get 2 BTC, and up to 10 BTC is available for each deposit.

The bonus is not withdrawable but could be used as a margin. 

Join bexplus now and learn how to earn money

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://coinpedia.org/guest-post/bull-run-is-back/

Continue Reading

Blockchain

DigiMax Expands Global Marketing into Asia with Signing of Collaboration Deal in Hong Kong

Published

on

STRATEGIC INVESTMENT PARTNER, KIROBO LAUNCHES 

P2P SWAP BUTTON

TORONTO, ON / July 28, 2021 / DigiMax Global Inc. (the “Company” or “DigiMax”) (CSE:DIGI)(OTC:DBKSF), a company that provides artificial intelligence (“AI”) and cryptocurrency technology solutions, is pleased to announce that it has signed its first collaboration agreement to expand CryptoHawk services into Hong Kong and surrounding areas.

CryptoHawk is an Artificial Intelligence driven, price-trend prediction tool that can be profitably used by any investor interested in trading Bitcoin or Ethereum.  The tool is different as it uses AI and machine learning to capture profit from the volatility of crypto currencies, rather than incur the risk of buy-and-hold investments.  As previously announced by the Company, in its first full month of operation in June 2021, CryptoHawk signals achieved a 1-month, long-short return on BTC of more than 25% compared to a buy-and-hold return for the same period of a loss of 10%.  In both up and down markets, CryptoHawk has the potential to deliver subscribers much higher returns when trading.

DigiMax is collaborating with Mr. Tony Tong in Hong Kong and other Asian regions where he has substantial influence.  Mr. Tong is Co-Chairman & Co-Founder of Hong Kong Blockchain Association HKBA.hk.org, Council Member of International Digital Asset Exchange Association IDAXA.org , and President of GlobalSTOx.io & APX.HK.  After graduating in engineering at the University of Minnesota and spending 15 years in the United States in several leading high-tech companies, Mr. Tong returned to Hong Kong where he has held many high-profile roles a few of which include:

  • Co-Founder of Pacific Financial Services and Super Angels Ventures.
  • Frequent speaker and bilingual moderator for leading fintech, blockchain, investment banking events, including Blockchain Economic Forum Singapore, Global Gaming Expo G2EAsia, Goldman Sachs, UBS, CLSA , Morgan Stanley Asia Investment Summit, Bank of America Merrill Lynch China Investment Summit.  

The collaboration agreement between DigiMax and Mr. Tong will include the issuance of 200,000 common shares of DigiMax and an award of additional shares as he assists DigiMax in successfully completing partnering deals with exchanges or directly increasing the number of CryptoHawk subscribers in Asia.

“We have known DigiMax and its founders since 2017 and we are impressed that they have withstood the test of time in the cryptocurrency and blockchain world,” said Tony Tong.  “The CryptoHawk offering is already proving itself as an excellent tool for crypto traders to use to increase their returns and we look forward to working together to develop more markets in Asia with them.”

“We are excited to be able to join forces with Tony Tong who we respect as a prominent leader in the crypto industry in Asia,” said DigiMax CEO, Chris Carl. “Tony has been a leader and an innovator in every facet of the blockchain and crypto currency space and we are certain that CryptoHawk can deliver a whole new level of value and power to anyone interested in trading or owning crypto currencies in their portfolio.”

KIROBO Update

Kirobo, a blockchain technology company into which DigiMax has made a strategic investment (see May 3, 2021 Press Release), yesterday announced it has launched its ‘P2P Swap Button‘, a decentralized tool allowing cryptocurrency users to execute token swaps without having to use an exchange or custodial third party.

By taking the swap off-exchange, the tool allows users to decide their own prices for their tokens and transact directly with peers. As a result, slippage is avoided completely.

Asaf Naim, co-founder and CEO of Kirobo, said: “Until now, it wasn’t possible to execute a swap without losing money, because exchange algorithms adjust token prices according to the amounts put up for sale. We’re allowing people to trade without an exchange and to set their own prices, with complete security, for the first time ever.”

Kirobo’s safe transfer platform secures transactions with an authentication key, the component parts of which are divided between the first party, the smart contract, and the Kirobo server. There’s no single point of failure, and Kirobo does not hold users’ funds at any point.

For more information, please see Kirobo’s full press release at: https://news.bitcoin.com/kirobos-p2p-swap-button-introduces-slippage-free-direct-token-swaps-to-crypto-market/

About DigiMax 

DigiMax is an Artificial Intelligence technology company committed to unlocking the potential of disruptive technologies by providing advanced financial, predictive, and cryptocurrency solutions across various verticals. DigiMax is an official IBM Watson partner, and the Company’s engineering team has extensive experience in Machine Learning, Neural Language Processing, AI, Big Data and Cryptocurrency technology.  

To learn more, visit our website: https://digimaxglobal.com/

Contact: 

Martti Kangas

Investor Communications

647-521-9261

[email protected]

Chris Carl

President & CEO

416-312-9698

[email protected]

Cautionary Note Regarding Forward-looking Statements

This press release contains “forward-looking statements or information”. Forward-looking statements can be identified by words such as: anticipate, intend, plan, goal, seek, believe, project, estimate, expect, strategy, future, likely, may, should, will and similar references to future periods. Examples of forward-looking statements in this press release include, among others, statements we make regarding the uses of our CryptoHawk.ai and CryptoDivine.ai software and their potential benefits and uses, and information about future plans, expectations and objectives of the Company.

Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. The Company may not actually achieve its plans, projections, or expectations. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company, including expectations and assumptions concerning the uses, benefits and expectations of our CryptoHawk.ai and CryptoDivine.ai software. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: the adequacy of our cash flow and earnings, the benefits and uses of our software, the pricing and availability of our software, the availability of future financing and/or credit, and other conditions which may affect our ability to expand the App Platform and software described herein, the level of demand and financial performance of the cryptocurrency industry, developments and changes in laws and regulations, including increased regulation of the cryptocurrency industry through legislative action and revised rules and standards applied by the Canadian Securities Administrators, Ontario Securities Commission, and/or other similar regulatory bodies in other jurisdictions, disruptions to our technology network including computer systems, software and cloud data, or other disruptions of our operating systems, structures or equipment, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, consumer sentiment towards the Company’s products and services, failure of counterparties to perform their contractual obligations, government regulations, competition, loss of key employees and consultants, and general economic, market or business conditions, the impact of technology changes on the products and industry, as well as those risk factors discussed or referred to in disclosure documents filed by the Company with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements.

Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Continue Reading

Blockchain

Ripple Consolidating, Will XRP Price Loose $0.7 Mark?

xrp price jumping

The post Ripple Consolidating, Will XRP Price Loose $0.7 Mark? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

Ripple announced the very first live on-demand liquidity offering in Japan, and the XRP price skyrocket more than 17%. However, after a magnificent jump, the price yet initiated with accumulation with a sideways trend. Thus, pointing out towards a probable dump if the price movement follows a similar trend.  No doubt the XRP price is …

Published

on

Ripple announced the very first live on-demand liquidity offering in Japan, and the XRP price skyrocket more than 17%. However, after a magnificent jump, the price yet initiated with accumulation with a sideways trend. Thus, pointing out towards a probable dump if the price movement follows a similar trend. 

No doubt the XRP price is positioned well above the 200-day MA after the fresh surge, and if it plunges further still, the levels may be maintained. But, currently, equal selling pressure is also visible that could hinder the price rally close to $1. Therefore, the price needs to exit the consolidation at the earliest in order to maintain with the uptrend. 

ripplechart

The price in the past couple of days had experienced a similar rally and after a small consolidation dropped close to previous levels. Interestingly, the XRP price is yet again on the verge to form a similar pattern. If, by chance the price dumps then it could plunge below $0.7. But on the other hand, the price sustained above the 50-day MA throughout the rally. And hence a substantial bounce may be imminent if in case the price hits these levels. 

Additionally, the Ripple vs SEC lawsuit settlement could be on the toes that could provide a notable jump. And hence by breaking the accumulation, the XRP price could march towards $1 in short term.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://coinpedia.org/price-analysis/ripple-consolidating-again-will-xrp-price-loose-0-7-mark/

Continue Reading

Blockchain

Bitcoin Price Has Huge Potential To Hit $100K, But These May Not Allow!

Bitcoin

The post Bitcoin Price Has Huge Potential To Hit $100K, But These May Not Allow! appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

It’s a known fact that Bitcoin price is a hot topic in the entire crypto space. As it is the most primitive token, it is followed by most traders. And hence, BTC price becomes the most pivotal part of the entire crypto market. However, as the crypto assets appear to have come into the mainstream, …

Published

on

It’s a known fact that Bitcoin price is a hot topic in the entire crypto space. As it is the most primitive token, it is followed by most traders. And hence, BTC price becomes the most pivotal part of the entire crypto market. However, as the crypto assets appear to have come into the mainstream, many institutions have could act as a barrier.

The magnificent rally that hit $64K faded within no time as many external factors dragged the price and restricted the price to enter the recovery phase.

  • Tesla Accepting, Halting & Probable Resuming of BTC Payments
  • Janet Yellen’s not so good thoughts on Bitcoin
  • Stablecoins like Tether facing probes and investigation
  • China’s blanket ban on Crypto Mining kept the Miners displaced 
  • Popular crypto exchange, Binance under the radar and hence the leverage in the future trading was reduced to 20x from 100x.

Despite multiple hindrances, Bitcoin price rejects to remain below $30,000 for more time and jumped above $40,000 after a prolonged consolidation. Moreover, the price can even rally high and break the upper barriers soon. 

bitcoinchartnew

Currently, Bitcoin price is testing the crucial resistance zone between $40,931 and $42,452. The price however had entered the range but quickly found an exit. This range can be one of the prominent ranges to determine the bull run. Once these levels are successfully broken, the next resistance levels close to $50,000 could be imminent. 

Moreover, the 200-day MA and the 50-day MA both showcase a possibility of a ‘Golden Cross’ after the deadly ‘Death Cross’. The death cross had declined nearly 25% of Bitcoin price in minutes. Conversely, if the golden cross adds up 25% then the possibility of the BTC price ranging towards $50,000 is high.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://coinpedia.org/price-analysis/bitcoin-price-has-huge-potential-to-hit-100k-but-these-may-not-allow/

Continue Reading
Techcrunch18 mins ago

Score a free month of Extra Crunch with your TC Sessions: SaaS 2021 pass

Techcrunch18 mins ago

Score a free month of Extra Crunch with your TC Sessions: SaaS 2021 pass

Automotive18 mins ago

Drivers for Elon Musk’s Loop get a script about their ‘great leader’

Crowdfunding48 mins ago

Pierce to Revive Mt. Gox, Bitcoin Survives Recent Drags

Big Data59 mins ago

If you did not already know

Big Data59 mins ago

If you did not already know

Techcrunch1 hour ago

Snapchat adds My Places feature to Snap Map, recommending spots to visit

Techcrunch1 hour ago

Snapchat adds My Places feature to Snap Map, recommending spots to visit

Ecommerce1 hour ago

Walmart to sell its e-commerce technologies to other retailers

Ecommerce1 hour ago

Walmart to sell its e-commerce technologies to other retailers

Ecommerce1 hour ago

Walmart to sell its e-commerce technologies to other retailers

Startups1 hour ago

Why I make everyone in my company be the CEO for a day

Startups1 hour ago

Why I make everyone in my company be the CEO for a day

Startups1 hour ago

Why I make everyone in my company be the CEO for a day

Big Data1 hour ago

Sony’s PS5 outstrips predecessor with 10 million units sold since Nov launch

Big Data1 hour ago

U.S. senators urge barring Huawei, ZTE from $1.9 trillion gov’t funding measure

Big Data1 hour ago

PowerSchool valued at over $3 billion in NYSE debut as shares rise

Big Data1 hour ago

PowerSchool valued at over $3 billion in NYSE debut as shares rise

Big Data1 hour ago

New York, other states to fight dismissal of antitrust lawsuit against Facebook

Big Data1 hour ago

Duolingo valued at $6.5 billion as shares pop nearly 40% in debut

Big Data1 hour ago

Duolingo valued at $6.5 billion as shares pop nearly 40% in debut

Big Data1 hour ago

Duolingo valued at $6.5 billion as shares pop nearly 40% in debut

Crowdfunding1 hour ago

NEO Blockchain Developers Announce New Codebase Modifications, and Frontier Launchpad Results

Crowdfunding1 hour ago

NEO Blockchain Developers Announce New Codebase Modifications, and Frontier Launchpad Results

Fintech2 hours ago

Squire, a Barbershop tech platform, triples its valuation (again) with Tiger Global

Fintech2 hours ago

Squire, a Barbershop tech platform, triples its valuation (again) with Tiger Global

Fintech2 hours ago

Squire, a Barbershop tech platform, triples its valuation (again) with Tiger Global

AR/VR2 hours ago

10 Million PlayStation 5 Consoles Sold Globally Sony Confirms

Techcrunch2 hours ago

BioNTech founder Uğur Şahin and Mayfield’s Ursheet Parikh are coming to Disrupt

Esports2 hours ago

Are Splitgate’s servers down? Here’s how to check server status

Trending