Bitcoin: Jim Cramer Questions the Future of Crypto

Jim Cramer, CNBC host, has once again expressed concerns about the future of Bitcoin (CRYPTO: BTC). He shared his apprehensions during CNBC’s ‘Squawk on the Street’ show while discussing potential investment opportunities.

Jim Cramer: "Mr Bitcoin is about to go down big". 🤡 pic.twitter.com/piBWXB0QHd

— Eugene Ng 🌊 (I’m Hiring) (@Eug_Ng) October 10, 2023

Jim Cramer’s opinion on Bitcoin

CNBC host Jim Cramer has once again expressed concern about the future of Bitcoin (CRYPTO: BTC). He shared his concerns on CNBC’s “Squawk on the Street” program, where he discussed potential investment opportunities.

“Many of our viewers are looking for ways to make money rather than lose money. I can’t recommend gold, and I can’t recommend Bitcoin, because Mr. Bitcoin is about to experience a major decline,” he said.

Cramer uses the expression “Mr. Bitcoin,” which could be related to Sam Bankman-Fried’s ongoing crypto lawsuit in New York, although this is not explicitly confirmed. Whatever the case, it’s clear that Cramer is forecasting a bearish trend for cryptocurrencies (including BTC).

Divergent reactions and perspectives on the leading queen

Reaction to Cramer’s statement varies widely. The “Inverse Cramer tracker”, designed to generate investment results opposed to Jim Cramer’s recommendations, for example, reacted sarcastically by congratulating the “Bitcoin bulls”.

Some analysts expressed divergent views regarding Cramer’s crypto prediction that Bitcoin could experience a significant decline. Others believe that Cramer’s bearish outlook could actually prove beneficial for the crypto market as a whole.

Jim Cramer is particularly skeptical of cryptocurrencies, especially in the context of regulatory scrutiny in the US. He previously warned investors in March 2023 to sell their Bitcoin holdings in the middle of a rally, calling it “strange behavior”.

Jim Cramer’s comments on Bitcoin only add fuel to the already existing debates within the crypto community. Its volatility and the impact of the Israeli-Palestinian war on this crypto are already fueling discussions. Will Bitcoin collapse or not? Only time will tell. At the time of writing, the BTC price is hovering around $27,056.40.