Jim Cramer, who is the subject of jokes in the financial world about his predictions turning out to be exactly the opposite, talked about Bitcoin again today.
Cramer, who was previously a hedge fund manager and currently hosts a program on CNBC, claimed in his statement on X that a 'big peak' had occurred in Bitcoin. So Cramer predicts a decline on the BTC chart.
In his statement last week before the Bitcoin Spot ETFs were approved, Cramer had different thoughts. In his statement at the time, the analyst said on CNBC that the conviction of Sam Bankman-Fried and the increased interest around the spot exchange-traded fund (ETF) were the “cleansing event” behind the ongoing price increases. He also added that “you cannot kill” Bitcoin.
Cramer has been historically bearish on crypto investments, abandoning the asset class during the bear market crash of 2022. Cramer previously owned BTC and ETH, but disposed of them in 2022.
In October last year, Cramer predicted a significant decline for Bitcoin, but contrary to his prediction, BTC has risen impressively, rising 150% in 2023.
*This is not investment advice.