If you have been in the trading space, whether crypto or stocks, then you know who Jim Cramer is. The market commentator almost never gets anything wrong. His mode of approach? He says what he does not mean. Traders always know to do the opposite of what Jim Cramer advices.
Are we together up to that point? Now, get this – Jim Cramer just said, “If you like Bitcoin, buy Bitcoin.” What could go wrong? Well, the crypto market rebounded yesterday, and all charts went green. Will that change?
According to CoinGecko, the price of Bitcoin sits at $37,392.38 with a trading volume of $12,041,365,870.29. This represents a 0.23% price increase in the last 24 hours and a 2.53% price increase in the past 7 days.
Jim Cramer is trending on X, and crypto is worried
Jim Cramer responded to a caller who inquired about buying shares in Bitcoin miner CleanSpark on a Nov. 22 segment of his CNBC Mad Money show, suggesting that anyone who likes Bitcoin should increase their exposure to it.
Bitcoin (BTC) has made an incredible comeback this year, with its price increasing by more than 120% since January 1. Despite its recent strong performance and the expectation of greater gains in the near future, there is one piece of advice that some cryptocurrency investors may find alarming.
Jim Cramer recently pushed Bitcoin supporters to boost their holdings of the main digital asset: “Look, if you like Bitcoin, buy Bitcoin. That has always been my view. And for a while, I liked it, and I decided that money had been made, but I was premature, but I made a lot of money.”
On December 5, 2022, when Bitcoin was selling at $17,150, Cramer recommended investors sell all of their crypto assets regardless of price, saying it was “never too late to sell an awful position.” Bitcoin’s price has risen 118% since then, with BTC now trading at $37,390.
Jim Cramers’ predictions, as well as his on-again, off-again love-hate connection with cryptocurrency, have become a famous meme among investment forums in recent years, with many pointing out his uncanny ability to make incorrect calls at critical times.
Events Jim Cramer has predicted right
The CEO of the major cryptocurrency exchange, CZ, resigned two days ago. The revelation pushed cryptocurrency to the brink of collapse, which it eventually recovered from. CZ has been dubbed a legend, and Cramer called it. With reverse psychology in mind, ‘Inverse Cramer’ saw an end to the situation before the crypto community caught on.
Earlier on, CZ half-jokingly asked Cramer not to invest in Binance for the sake of everyone else.
More recently, Argentina wrapped up elections and elected a pro-Bitcoin leader – Javier Milei. Javier has sworn to put an end to the financial crises that have Argentina facing inflation at over 142%.
Javier intends to drop the Argentinian Peso for the US Dollar. His decision has brought about a division on whether Argentina will join the BRICS economic block or not. Before the tally was in, Jim Cramer pointed out:
His last call was on Nvidia. Cramer said, “Not sure exactly what the market wants out of Nvidia, but I am sure Nvidia has it.”
