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, 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.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.
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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.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.