Often the market begins moving in the opposite direction of his predictions.
Bitcoin and Jim Cramer’s protracted spat looks to have been in mediation for some time.
Jim Cramer, a well-known TV personality and financial expert, is known for making bold market predictions. Whenever Jim Cramer makes a forecast on the future of cryptocurrencies or stocks, a phenomenon known as “Cramer’s curse” typically occurs, as per the community.
Often the market begins moving in the opposite direction of his predictions, prompting some investors to take the other tack.
Recently, Jim Cramer, host of the stock market analysis show Mad Money, has recommended cryptocurrency investments, namely Bitcoin, on the show. Bitcoin’s price saw slight increases today, suggesting that Cramer’s comments caused a stir in the larger cryptocurrency markets.
So Far Bitcoin Stable
Bitcoin and Jim Cramer’s protracted spat looks to have been in mediation for some time. Cramer apparently advised his audience to liquidate their Bitcoin holdings in October of this year, given the state of the market at the time.
Cramer said in the statement that the current market circumstances show that it is a good time to get out of the crypto industry. Recent comments, however, seem to run counter to his established worldview.
Moreover, in Cramer’s most recent edition of CNBC Lightning Round, he indicated that one should acquire Bitcoin if they genuinely like it. Jim said that this was his way of thinking from the beginning, and that he liked it for a time. This mental framework was crucial to his financial success as per Jim.
At the time of writing, Bitcoin is trading at $37,260, up 0.59% in the last 24 hours as per data from CoinMarketCap. The crypto market has been quite stable despite the recent Binance and U.S authorities settlement.