Jim Cramer, the host of CNBC’s Mad Money, has become a significant figure for Bitcoin investors, who have found that counter-trading his advice often yields positive results. Recently, Cramer has once again shared his thoughts on the future of Bitcoin’s price, sparking interest among investors.
In a recent episode, Cramer suggested a possible peak for Bitcoin. Despite the steady rise of Bitcoin’s price this week, which saw it surpass $47,000 for the first time in nearly two years, Cramer believes the asset may have reached its top. However, he did not discourage investors from buying Bitcoin. “Let’s stop fooling around,” Cramer stated. “You want Bitcoin, buy Bitcoin. I think Bitcoin is topping out, by the way. So I’m going to say enough is enough.”
Interestingly, if investors were to counter-trade Cramer’s advice, they would be buying Bitcoin at this time. If the inverse correlation continues to hold, Bitcoin’s price could potentially skyrocket once again. This strategy has proven profitable in the past. For instance, last week, after Cramer praised Bitcoin on his show, the price of the cryptocurrency fell from over $45,000 to below $42,000 on January 3.
It’s not just in the crypto world where counter-trading Cramer has been beneficial. There was even an ETF dedicated to investing in the opposite direction of Cramer’s stock picks, although it was closed in 2023. As news of Cramer’s latest stance on Bitcoin spreads, it will be intriguing to see where the cryptocurrency’s price heads next. If it follows previous trends, we could be looking at another price crash.
Disclaimer: This article is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments. Investing naturally carries risks. You are advised to conduct your own research before making any investment decisions. Use the information provided on this website entirely at your own risk.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Jim Cramer, Charlie Munger |
| Companies | Tradingview.com, Mad Money, SEC, CNBC, NewsBTC |
| Currencies | Bitcoin |
| Securities | None |
