In early December 2022, Jim Cramer urged investors to liquidate their crypto holdings. The CNBC host said they wouldn’t have any other opportunities to make even a small profit. Cramer thought the bear market would harden further. At the time, bitcoin was trading around $17,500, but it has since seen a rally. Now, the flagship crypto is priced over $23,000, which is a significant rally. Now, the CNBC host no longer invites the liquidation of crypto assets: it’s quite the opposite!
The current trend of bitcoin (BTC), an opportunity not to be missed?
Jim Cramer, who had urged investors to flee bitcoin, is now urging to accumulate tokens on the downside. He said consumers interested in the crypto sector should take advantage of the trough of the wave. They should grab the buying opportunities that come their way now that the crypto market is trending up.
“If we are in a bull market, and I think we are, we have to be prepared. Be prepared for down days now because in a bull market these are buying opportunities», asserted the CNBC host. If we consider these words, we must expect a slowdown in the crypto market in the coming month.
However, it turns out that Cramer often made the wrong predictions. Generally, the opposite of what the facilitator predicts happens. For example, in September 2021, he had encouraged investors to sell their holdings in anticipation of a sharp drop in price.
But, two months later, there was instead a remarkable rise in the price of BTC. The latter had risen to nearly $70,000. Similarly, after its bearish prediction last December, the market has rallied. Since that prediction, bitcoin has surged 35%.
In recent weeks, stocks have seen some upside. For example, there is the Nasdaq which has risen by 1.67% recently. At the same time, the S&P 500 rose almost 1.5%. Nevertheless, there has not been much change in the crypto market. Above all, there was an increase in the price of bitcoin (BTC) to $23,000. At the same time, the overall market cap of the crypto market has fluctuated between $1 trillion and $1.1 trillion.
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