US Stock Market Expected to Fall, BTC Will Be Bullish! – Michael Burry

<p>&nbsp;"Hmm, if that's the case, all crypto investors are waiting for the stock market to fall."</p><p><br /></p><p>While the entire cryptocurrency market including Bitcoin (BTC) is witnessing a flat movement, United States (US) investor Michael Burry revealed his price prediction for the US stock market.</p><p><br /></p><p>According to a recent filing with the Securities and Exchange Commission (SEC), Scion Asset Management, a firm associated with Burry, expects major stock indexes to decline.</p><p><br /></p><p>But it remains to be seen whether such a decline could cause the price of BTC to soar as it did before when the US faced a banking crisis in early 2023.</p><p><br /></p><p><br /></p><p>It is reported that Scion Asset Management has bought Invesco QQQ Trust Series 1 shares worth $740 million and the S&amp;P 500 at $900 million, where both make up around 93% of the total value of Burry's portfolio.</p><p><br /></p><p>However, he expects the fall in the value of US stocks to have a positive impact on the crypto market as traders are likely to be more interested in BTC as a high-risk investment.</p><p><br /></p><p>After many thought the prolonged horizontal movement for the crypto meant its value would soar, confidence among investors regarding the approval of the spot BTC ETF filing has been growing.</p><p><br /></p><p>Not only that, BTC is also predicted to soar in the future due to expectations that the Federal Reserve (Fed) may not raise interest rates during the Federal Open Market Committee (FOMC) meeting in September 2023.</p><p><br /></p><p>As of this writing, the price of BTC is up 0.49% at $29,362 in the last 24 hours with a market cap of $571 billion and is up around 0.79% over the last week.</p>