Internet confused as Jim Cramer turns bullish on Bitcoin
Last Updated on 25 November 2023 by CryptoTips.eu
Crypto fans fell to the floor after the sudden turn of Jim Cramer, the popular host of the CNBC program ‘Mad Money’. Over the past two years, Jim has made a great number of bearish predictions about Bitcoin. All of those predictions turned out disastrous, leading the internet to invent the counter-indicator-Jim.
This time however he sees things differently and has turned bullish. Investors who always do the opposite of what Cramer recommends with regard to crypto are at a loss for words.
In 2020 and 2021, Jim Cramer was a real Bitcoin bull. He bought some, saw his investment double and then sold at the end of 2021. Ever since then, he has completely turned around and predicted several times that Bitcoin would go to zero.
Funnily enough, just about every prediction he’s made since then has coincided with a weeklong bull run for Bitcoin.
Crypto fans have therefore been calling Jim the ultimate counter-indicator for a few months now. If Jim says Bitcoin is going to do poorly, then you should buy.
At least, that is the opinion of many on social media. We won’t comment on whether this is scientific, but a lot of jokes have been made about it.
Profit and sold too soon
In a segment of his show where he asked listeners to call in and then discussed their preferred stocks, Jim was asked this week for his opinion on Cleanspark, a bitcoin mining company.
In the now viral clip, you can see that Jim is clearly not pleased to receive the question, because he knows full well that every Bitcoin judgment he makes as from this point, is viewed with a magnifying glass by the cryptosphere.
He responds: “Look, if you like Bitcoin, buy Bitcoin. That has always been my view.”
It then turns out that Jim’s opinion about Bitcoin has changed and he admits that he sold too early.
“For a while, I liked it, and I decided that money had been made, but I was premature, but I made a lot of money.”
The internet responded as usual to Jim’s comments on Bitcoin, but doesn’t really know what to do next.
Has a real Bitcoin bear turned positive? It certainly looks like it.