As the crypto sector struggles with uncertainty, CNBC’s Jim Cramer thinks there’s still time to sell. The latter does not hide his aversion to speculative assets and strongly advises to get rid of them. However, the real question is whether to really dispose of its tokens in view of the historic rebounds in the sector when we did not expect it.
Crypto, it’s never too late to sell horrible positions, says Jim Cramer
It’s a fact, the crypto space is not unanimous and everyone has their own point of view. While some see the revolution in it, others like Jim Cramer continue to cry scam. Indeed, the latter has declared investors on Monday that it is not too late to sell their cryptocurrency holdings.
According to him, investors should not be afraid to liquidate their positions thinking that it is too late. Cramer keeps warning them against continuing to speculate as the Fed tightens the economy. For him, the huge market capitalization of some blockchains should not mislead market participants.
Not only do cryptocurrencies present a lot of risk, but they also offer no guarantees. If we take into account the state of the crypto ecosystem since the beginning of this year, we could say that digital assets are trending towards their decline. The collapse of Terra Luna opened a huge breach in the sector.
If things seemed to be getting back to normal, the fall of FTX, the second-largest crypto exchange, resulted in massive losses and pushed the space under intense scrutiny. Currently, bitcoin (BTC), the premier cryptocurrency, is trading below $17,000 and Jim Cramer expects more to fall to zero.
For him, the Dogecoin (DOGE), Ripple (XRP), Polygon (MATIC) and Cardano (ADA) should start a continuous downtrend. Therefore, investors should stop kidding themselves and get out while there is still time.
While Jim Cramer’s analysis makes sense, it’s worth remembering that volatility is sometimes the biggest draw in digital assets. Cryptos spend their time riding roller coasters. So every investor should think better before making a decision.
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