On April 14th, Jim Cramer, the host of CNBC’s Mad Money, warned investors to stay away from Bitcoin, citing its impending crash. Cramer, who has been a long-time critic of the cryptocurrency, stated that he was “not staying in this” and that investors should “get out now”.
The warning came as Bitcoin’s price had been steadily rising over the past few weeks, reaching a high of over $60,000. Cramer’s comments were met with criticism from some in the crypto community, who argued that the market was still in its early stages and that the price could continue to rise.
However, Cramer’s warning appears to have been prescient. In the two weeks since his comments, Bitcoin’s price has dropped by nearly 20%, falling to around $48,000. This has been attributed to a number of factors, including a sell-off by institutional investors, a decline in demand from retail investors, and a general market correction.
The recent price drop has caused some to question the long-term viability of Bitcoin as an investment. While the cryptocurrency has seen tremendous growth over the past year, its volatility and lack of regulation make it a risky bet for many investors.
It remains to be seen whether Bitcoin will continue to decline or if it will recover from its recent losses. In the meantime, investors should heed Cramer’s warning and proceed with caution when considering investing in the cryptocurrency.
🗓 14 days ago Jim Cramer said that Bitcoin was going to plummet 👀
“I can’t be in something where Mr. Bitcoin is about to go down big!”
– Jim Cramer