According to Jim Cramer, host of CNBC’s Mad Money, the market cap of the total crypto market will drop below $1 trillion due to the obvious lack of real value in this cryptocurrency.
After CNBC host Jim Cramer said there was “no real money in crypto” and predicted the market would drop even further. As a result, some in the crypto community believe the market bottom may have now been reached.
Cramer has gained a reputation for giving stock and crypto tips that come up wide of the mark or the complete opposite of his prediction in the crypto community and thus has built his own reputation as the host of CNBC’s Mad Money and for giving stock and crypto tips that come up wide of the mark or the complete opposite of his prediction.
This has turned into a very popular meme among the crypto community, along with the on-again-off-again love-hate relationship he has with crypto that has been making headlines in recent years.
Crypto bear market just ended https://t.co/9a7tGjLYiW
— Coffeezilla (@coffeebreak_YT) July 5, 2022
Taking into account Cramer’s comments about the crypto market, it has been found that the community does not really believe him that much. These comments were so widely ridiculed by many of the experts in the field that they even made fun of them. They even suggest that Cramer’s predictions should be acted upon contrary to the predictions he makes in his speeches and show.
This would be fine if he a) was a crypto skeptic all along b) ack that he was pushing it when it was going up and got call wrong. Instead he's a bandwagoner on steroids- last guy to praise stuff bf it collapses and last guy to trash it bf it rebounds. WHERE IS INVERSE CRAMER ETF? https://t.co/6tIMdNO1m6
— Eric Balchunas (@EricBalchunas) July 6, 2022
There have been many instances in which Cramer has stated some predictions about the market, which have changed dramatically since he made those predictions. Several of Cramer’s previous comments were gathered in a reply posted by Nate Geraci to the tweet above.
Made this just for you… https://t.co/7hcDtDceyq
— Nate Geraci (@NateGeraci) July 6, 2022
There are a lot of people who talk negatively about the crypto market in downtrend times, and Jim Cramer isn’t the only person to do so. Many experts start to talk about the market and cryptocurrencies when the market is not performing well, stating that there is no real value in these assets when the market is not performing well. In the opinion of some experts, there is an intention to further lower the prices and buy the dip as soon as the price drops.
Conversely, when the markets are green, and cryptocurrencies are performing well, many people post positive comments about cryptocurrencies when they are experiencing good times. Experienced traders always advise their clients to be careful when trading and investing and not to listen to what other people have to say. As an investor, you should develop a plan outlining how you plan to buy, hold, and sell assets that work for you. You can do this by listening to experts, followed by coming up with your own plan.