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Why Bitcoin Could Collapse Another 50%, Says Michael “Big Short” Burry

Former hedge fund manager Michael Burry made another bearish prediction for Bitcoin and traditional equities. Renowned for his short position which preceded the U.S. housing market crash, and one of the periods in recent economic history for the world, Burry believes more pain for BTC’s price is ahead. Related Reading | Shiba Inu (SHIB) Shines Green In Pool Of Crimson – Who’s Buying? Currently, Bitcoin is trading at $19,400 with an 8% loss in the past 7 days. The cryptocurrency was moving sideways around its 2017 all-time high levels, $20,000, but the market took yet another turn to the downside and might re-test its yearly lows near $17,000. This could be a fraction of future losses, according to Burry. The former hedge fund manager has been bearish on BTC seems the cryptocurrency was trading north of $60,000, in October 2021. Via his Twitter account, Burry asked his followers tips on how to short a cryptocurrency: Ok, I haven’t done this before, how do you short a cryptocurrency. Do you have to secure a borrow? Is there a short rebate? Can the position be squeezed and called in? In such volatile situations, I tend to think it’s best not to short (…). A short time after, BTC’s price reached its current all-time high which could have resulted in major profits for Burry, if he was able to open a short position. In that case, he might still wait on taking profits, according to its latest prediction, traditional equities and BTC could experience more downside on the back of a bad earnings season: Adjusted for inflation, 2022 first half S&P 500 down 25-26%, and Nasdaq down 34-35%, Bitcoin down 64-65%. That was multiple compression. Next up, earnings compression. So, maybe halfway there. Some Good News For Bitcoin In The Short Term Two experts recently shared potential bullish catalyzers for Bitcoin, at least for a short period of time. Jurrien Timmer, Director of Macro for investment firm Fidelity, believes equities have a chance to rebound from their recent crash. However, Timmer believes the risk-off season could extend further while bond yields trend upwards. In the upcoming earnings season for U.S. publicly traded companies, one could provide more clues on what’s next for the market, including Bitcoin which has been displaying a correlation with traditional equities. With bond yields down and equities up, the correlation between the two asset classes remains slightly positive on a 12-month basis. It’s rare to see the Z-score for both stocks and bonds so negative at the same time. pic.twitter.com/BhJ8BklPmo — Jurrien Timmer (@TimmerFidelity) July 1, 2022 On the other hand, Bloomberg Intelligence Mike McGlone has been expecting a drop in the price of commodities. If these assets trend to the downside, the Fed might slow down on its economic tightening and provide risk-on assets like Bitcoin with some room for relief. Commodities rallying often indicate high inflation, they suggest the opposite when they trend to the downside which could suggest the U.S. financial institution might be succeeding at cutting down inflation, currently their apparent number one priority. McGlone said: Commodities Aren’t Complicated, 1H Was High: When the history of 2022 is written, there’s a good chance that the 1H pump in commodity prices will play out like similar surges in the past, with a reciprocal dump. Timmer and other experts believe that negative news on the economy, talks of economic recession, and a sustained market crash might allow the Fed to become more dovish on its monetary policy. The market has reacted to the downside as a result of the Fed, but some believe this will be insufficient to stop inflation. Related Reading | Ethereum (ETH) Bends Toward $1,000 As Doubt Fills Crypto Markets Fed Chairman Jerome Powell has expressed doubts about a less aggressive monetary policy. In an interview with The Wall Street Journal, Powell said bringing down inflation will result in “some pain” for global markets. Does this mean Burry will be right as in 2008?

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Plugin Partners With Inclusive Growth Chain to Implement the ‘Project Pollution Check’

The Plugin and Inclusive Growth Chain have collaborated to implement the ‘Project Pollution Check’. The Pollution Check is designated to collect and tabularize the data regarding air pollution. And further help end-users like air purifier producers, realtors, and the environment conversalists both in public & private sectors. In this context, let’s investigate the Plugin and Inclusive Growth Chain partnership and the way the ensuing blockchain-based answers will assist to enhance real-time air-pollutants tracking and ease the development of specific blockchain outcomes. Today, poor ambient air quality is one of the most crucial public health concerns around the globe. Exposure to polluted air causes more than 6.6 million premature deaths each year and makes up close to 8% of the global burden of disease. What’s more, exposure to air pollutants reaches far beyond respiratory illnesses. Research shows that there are links between air pollution and non-communicable diseases like diabetes, cancer, and more recently COVID-19 health outcomes. While air quality is a global sustainability issue with varying severity and effects across nations, there’s a need to adopt novel approaches to manage the issue. One approach to the problem is technology. Leveraging tech will help overcome factors that put pressure on ambient air quality. On that note: blockchain technology and its novel use cases holds a lead position in helping track air pollution in real-time using data feeds from authoritative off-chain sources. Plugin & Inclusive Growth Chain: Who they are and what they offer Plugin is a decentralized oracle platform providing cost-efficient solutions to smart contracts that run on the XDC Network Ecosystem. The novel solution focuses on providing cost-efficient solutions to users that need reliable data on their smart contracts. And being a fork of Chainlink open-source technology built to benefit the XDC Network Blockchain Ecosystem, Plugin enables smart contracts to communicate seamlessly with the outside world and store data gathered from reliable partners. Plugin guarantees dedicated support, reliable data feeds, thoroughly tested platform for quality, and enterprise-grade service level agreements. On the other hand, Inclusive Growth Chain (IGC) is an integrated blockchain, artificial intelligence, and machine learning platform that seeks to address social and environmental problems. Recently, the organization won the top prize for creating a blockchain-enabled platform that aggregates air pollution data with high accuracy and at minimal costs. The platform also works with Farmer Producer Organizations (FPOs) in India, helping redistribute value chain gains to farmers. Plugin—Inclusive Growth Chain Partnership Through the Plugin—IGC partnership, the entities will work towards implementing the “Project Pollution Check”. Given the benefits to be accrued upon launching the project, it has been touted as a more impactful decentralized application on the XDC network, which leverages PLI. So, what’s “Project Pollution Check”? Pollution check is a blockchain-enabled use case that allows air pollution tracking and tracing in real-time. Conceptualized by IGC, the project proposes to collect real-time data on air pollution, helping users with air pollution-related health issues or allergies make appropriate decisions. Worth noting, that the solution will be available to users across the globe. In this project, the Plugin will act as an oracle service to bridge the data (Air pollutants) from the external world into a decentralized application. What’s more, the air pollution tracking and tracing application will target end-users like real estate properties provider and developers, real estate buyers, air purifier companies, and government agencies tasked with protecting the environment. For real estate property providers and developers, Pollution checks will help them decide where to construct housing that meets their client’s air quality index (AQI) requirements. As well, this may help with pricing real estate properties—that is, areas with lower AQIs can fetch a premium as compared to those with significantly higher AQIs. On the other hand, Pollution-check will help real-estate buyers determine—in real-time— the pollutant levels in an area prior to making purchase decisions. To illustrate, Pollution-check will help families with kids and elderly members to avoid buying or renting homes in areas whose air has high levels of carbon monoxide. Air purifier companies will also leverage the solution. With accurate data on pollution in different locations, air purifier companies may tailor their services and offer models that are most effective for specific regions. This will help reduce air pollution-related issues for clients in different locations. Government agencies tasked with safeguarding the environment can leverage Pollution-check to pass laws on appropriate mechanisms to reduce air pollution. For instance, government agencies may introduce policies favoring the increase of electronic vehicles. This will help reduce air pollution resulting from diesel and petrol-powered engines. That said, what other areas will the Plugin and IGC partnership touch on? Well, in addition to “project pollution-check”, IGC and Plugin also plan to collaborate on other solutions in the Private & Public Blockchain space. IGC will also avail Big data, Machine Learning & Artificial Intelligence expertise on a demand basis, helping strengthen Plugin’s technology landscape. As well, plugin seeks to onboard IGC as a masternode operator following the MOU. This will happen after consultations with respective network community members. While air pollution remains a major concern around the globe, the inception of novel technologies through the PLI-IGC partnership holds the potential to reduce and reverse some resulting effects. For example, the inception of “Pollution check” holds significant potential in mitigating air pollution-related issues. By allowing real-time checking of air pollution levels in different locations, the solution will enable end-users like real estate property providers and developers, real estate buyers, air purifier companies, and government agencies to make appropriate decisions. As well, the PLI-IGC partnership helps leverage each firm’s capabilities to boost their respective abilities.    

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Black Tie’s Property Investment Marketplace Is Now Live, Combining Crypto And Real Estate

Black Tie Digital is a market-leading innovator in the use of distributed ledger technology to integrate old platforms, industries, and marketplaces. The Australian company recently announced the debut of its B4Real platform, which aims to make real estate transactions more trustworthy and efficient. B4Real is a pioneer in the new world digital economy, combining the […]