Wednesday, May 29, 2024

Jim Cramer of Mad Money believes Bitcoin will fall to $12,000 in the near future.

Jim Cramer recently made an appearance on CNBC’s Squawk Box, where he made some predictions about Bitcoin.

Cramer’s prediction on Bitcoin price

Cramer hosts “Mad Money” and was a hedge fund manager in the past. This Friday, he shared his forecast about bitcoin on CNBC. Cramer is the founder of Thestreet.com, which is a literary and financial news website.

The host asked him whether he feels BTC was going to recover from its current level or plunge down further by another 50 percent or even more. The television personality predicts that the BTC might further plunge to 12,000 USD.

He also feels people associated with the currency need to take a different stand altogether. The host of “Mad Money” mentioned some guys need to say “this is the level”. Cramer also emphasized that people cannot let its value go down further.

Cramer’s views on Microstrategy and margin calls

The host also gave his views on the software company Microstrategy. The Nasdaq-listed organization has gathered 129,218 bitcoin on the balance sheet. Michael Saylor, its CEO, is a BTC bull.

Saylor recently made an appearance on CNBC and backed BTC by saying that the currency is the best investment for his business. Cramer mentioned that if the company altered the rates of margin on crypto, the current CEO would have to quit.

Earlier in 2022, the host mentioned he is convinced that ETH and BTC were very close to their worst performance. It was when these cryptos were trading at $2,400 and $36,600m on the basis of Tom DeMark’s analysis.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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