Many crypto investors view Bitcoin as a safe haven. But this status as well as the future of this cryptocurrency seems to be called into question in various debates. CNBC host Jim Cramer amplifies these discussions by saying that Bitcoin is in danger of collapsing.
Jim Cramer’s opinion on Bitcoin
CNBC host Jim Cramer has once again expressed concerns about the future of Bitcoin (CRYPTO: BTC). He shared his concerns on CNBC’s “Squawk on the Street”where he discussed potential investment opportunities.
“Many of our viewers are looking for ways to make money rather than lose it. I can’t recommend gold, and I can’t recommend Bitcoin, because Mr. Bitcoin is about to experience a major decline.”does he have declared.
Cramer uses the phrase “Mr. Bitcoin,” which could be related to Sam Bankman-Fried’s ongoing crypto trial in New York, although this is not explicitly confirmed. Regardless, it is clear that Cramer plans a bearish trend for crypto currencies (including BTC).
Divergent reactions and perspectives about the crypto queen
Reaction to Cramer’s statement varies widely. The “Inverse Cramer tracker”, designed to generate investment results opposite to Jim Cramer’s recommendations, has for example reacted sarcastically by congratulating the “Bitcoin bulls”.
Some analysts have expressed divergent views regarding Cramer’s crypto prediction that Bitcoin could see a significant decline. Others believe Cramer’s bearish outlook could actually prove beneficial for the entire crypto market.
Jim Cramer is particularly skeptical of cryptocurrencies, especially amid regulatory scrutiny in the United States. He already had warned investors in March 2023 to sell their Bitcoin holdings in the middle of a rally, calling it “strange behavior.”
Jim Cramer’s comments on Bitcoin only fuel existing debates within the crypto community. Its volatility and the impact of the Israeli-Palestinian war on this crypto are already fueling discussions. Bitcoin will collapse or not? The future will tell. At the time of writing, the BTC price is hovering around $27,056.40.
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