Bitcoin jumps towards $35,000, rises another 30% since Jim Cramer announced a crash

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Last Updated on 6 November 2023 by CryptoTips.eu

The price of Bitcoin went hyperbolic last night, almost hitting $35,000 after investors became convinced that a Bitcoin ETF (exchange traded fund) would be approved in the near future. Crypto fans cannot believe their luck. Two weeks ago, Jim Cramer predicted a crash and this (again) turned out to be the exact moment you had to buy.

The very popular CNBC presenter Jim Cramer has become a real Bitcoin basher in the past two years. A Bitcoin basher means someone who predicts a Bitcoin crash at every possible opportunity.

Cramer was proven wrong early this year when he said you should get out of Bitcoin (the digital currency was trading at $17,000 at the time) at the beginning of January, and he did it again a few weeks ago.

Crypto fans can’t stop talking about the fact that you have to buy every time Jim predicts a new crash. Once more, Bitcoin has rallied ever since Jim’s statement.

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Inverse cramer

In January this year, Cramer, who has been providing financial commentary on American television for more than 20 years, claimed that Bitcoin would go to 0.

A month later the price was 60% higher of course.

Zerohedge, the legendary rebel journalist who rose to fame during the Trump years, showed how bad Cramer’s prediction had become. He made a graph of the Bitcoin price, and how the January rally started on the same day Cramer advised his followers to sell.

Two weeks ago, Cramer did it again. During a discussion of current market sentiment, a fellow presenter asked him where he would invest his money now and Cramer claimed that he was going ‘risk-off’ and therefore did not want to be in risky assets. His words: “Mr Bitcoin is about to go down big” were interpreted by many on social media as another Bitcoin crash prediction.

Crypto fans on Twitter cannot believe their luck now that it appears that this was the exact moment you should have made another move. Since Cramer’s quote, Bitcoin has risen again by almost 15%.

Even with the famous ‘inverse Cramer’ investment fund already existing, some now also want to set up an ‘inverse Cramer’ Bitcoin fund.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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