Jim Cramer Says Bitcoin Is Topping Off, Time To Buy Bitcoin?
09 Janeiro 2024 - 10:00AM
NEWSBTC
Counter-trading CNBC’s Jim Cramer has gone from being a meme to
something that Bitcoin investors have begun to take seriously. As
the inverse of what Cramer says has usually been the case, taking a
stand in the opposite direction has proved positive for some
investors. Once more, Cramer has shared his thoughts on where the
BTC price is headed, so is it time to buy or sell? Jim Cramer Calls
The Bitcoin Top In a new episode, the Mad Money host, a show hosted
on the CNBC Network, called out a possible top for Bitcoin. Now,
the price of BTC has been steadily rising this week, which saw the
price eventually rise above $47,000 for the first time in almost
two years. Related Reading: Rocket Carrying Physical Dogecoin To
The Moon Takes Off, But Why Is Price Struggling? Following this
brief surge, Cramer took to the show to reveal that he thinks the
price of the asset has reached a possible top. However, instead of
the usual one-sided argument, Cramer would go on to tell investors
to buy BTC if they want. So while the former hedge fund manager did
call for Bitcoin to top out, he is not advising investors to not
buy the cryptocurrency. “Let’s stop fooling around,” Cramer states.
“You want Bitcoin, buy Bitcoin. I think Bitcoin is topping out, by
the way. So I’m going to say enough is enough.” This statement
tends to play on both sides of the coin for now, no longer
discouraging investors from buying the asset. BTC shows strength
ahead of SEC decision | Source: BTCUSD on Tradingview.com BTC Goes
The Opposite Way Of Cramer Going through the path of
counter-trading Jim Cramer would actually see investors buying
Bitcoin at this time. If the same inverse correlation holds, then
the Bitcoin price could be rocketing up from here once more.
Related Reading: Forbes Says Spot Bitcoin ETF Approval Will Send
BTC Price To $80,000 This school of thought did not just emerge out
of nowhere as even as recently as last week, the act of
counter-trading Cramer seems to remain a profitable venture. Last
week, Cramer had taken to his Mad Money show to praise Bitcoin
after being previously bearish. Cramer explained that Bitcoin
cannot be killed, saying BTC was “here to stay” and the likes of
Charlie Munger were blind to it. However, in true Cramer fashion,
the price of Bitcoin would tank not long after, crashing from above
$45,000 to below $42,000 on January 3. This is also not limited to
crypto as there was an ETF dedicated to investing in the opposite
direction of Cramer’s stock picks, although that ETF was closed in
2023. Nevertheless, as news of Cramer’s new stance hits the
headlines, it’ll be interesting to see where the BTC price goes
from here. If it follows previous trends, then the BTC price could
be headed toward a price crash once again. Featured image from Siam
Blockchain, chart from Tradingview.com
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