Haciyev Reşit 
The famous investor Michael Burry, best known for predicting the 2008 global financial crisis, has compared Bitcoin’s recent decline to the 2022 bear market. Burry described Bitcoin’s pullback from around $126,000 to the $70,000 level as a price structure similar to the previous cycle, noting that such moves are often part of longer-lasting downturns. Based on this similarity, Burry implied that the current correction may not yet be over and that downside risks could persist in the short term.
“Price Movements Are Almost Identical”
In recent days, Michael Burry has increased his commentary on Bitcoin, arguing that the decline from the October peak near $126,000 to $70,000 closely resembles the sharp drop seen between late 2021 and 2022. Sharing a chart, Burry claimed that price movements in both periods nearly overlap, stressing that such historical similarities can serve as leading signals for the market and should not be ignored.
In the previous cycle Burry referenced, Bitcoin fell from around $35,000 to below $20,000. If a similar percentage decline were applied to today’s prices, market participants have begun to discuss the possibility of Bitcoin sliding toward the $50,000 range. Analysts say this scenario remains on the table, especially as long as overall market sentiment stays weak.
Burry’s post quickly surpassed 1 million views and sparked intense debate within the crypto community. Some investors argued that it is risky to draw strong technical conclusions from a single historical comparison and emphasized the need for caution.
Among those sharing this skeptical view was trading firm GSR, which responded to Burry’s post with the remark:
“Just because it happened once, does that make it a pattern?”
Burry’s Controversial Past Predictions
Michael Burry is known not only for accurate forecasts but also for controversial calls. For instance, in 2021, when Bitcoin was trading around $33,000, he predicted further declines—yet shortly afterward, Bitcoin rallied strongly to nearly $69,000. These past examples reinforce the view that Burry’s analyses do not always play out as expected and that investors should not treat his latest warnings as a certainty on their own.
In another post shared yesterday, Burry suggested that if Bitcoin’s decline continues, it could lead to “very painful outcomes.” He mentioned three possible scenarios but did not provide details. This vague statement further weakened already fragile market sentiment and added psychological pressure on investors. Analysts note that such warnings can intensify fear during periods of high volatility.
Assessment
Michael Burry’s comparison of Bitcoin’s current price action to the 2022 bear market has brought bearish scenarios back into focus, particularly amid today’s heightened volatility. While analysts acknowledge that historical parallels can offer valuable signals, most agree they should not be treated as definitive on their own. In the near term, the $50,000–$70,000 range is emerging as a critical price zone to watch closely for Bitcoin’s direction.
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