Crypto Markets TURNING BULLISH! Jim Cramer Is A Moron
So very recently, jim cramer went on record and he had a lot to say about cryptocurrency, but lets go ahead and hear exactly what he had to say here. The one im most interested in is crypto because a lot of people are in crypto and crypto really does seem to be imploding, but it goes from 3 trillion to 1 trillion. Why should it stop at one trillion theres, no real value there, yeah nfts, i mean you know you look at these companies theres these companies that you never heard of and they blew up over the weekend and you just say to yourself: holy cow, theres, 600 million Dollars just going down the drain, we had gary gensel the chairman on a few weeks ago and he just said: look anybody who has a come hither rate uh of investment, you just you know its the rate that you earn. You can kind of forget about it and thats whats happening all right. All right places can sam bank and freed save. So obviously he had a lot to say here about cryptocurrency. He essentially said that nfts are all useless. Cryptocurrency is going to continue to go down its a useless asset now, for obvious reasons, this is very ironic and im gon na go over just a couple examples of why that is real, quick here. So in the past, uh jim cramer was actually incredibly bullish on cryptocurrency bitcoin as a whole, and he has gone on record many times, making just absolutely absurd types of projections for different coins and tokens.
One of those was coinbase. Of course he says we like coinbase to 475 and one year later after he made that sentiment or that statement. Sorry uh coinbase was at 47. He was just way off on a lot of predictions, so this is not even the only prediction that hes been off on hes made countless wrong predictions in the stock market, real estate bubbles, etc. This guy has just been historically wrong, so many people see jim cramer, making this prediction as a solid indicator that were probably going to be starting to get into a more bullish territory within the cryptocurrency markets, which is a possibility. One bullish trend that were starting to see is that the crypto fear and greed index is improving. Actually, after the 60 sell off that we saw not so long ago. In fact, we can see that they measure climbing toward fear from the extreme fear level, which is actually a really good sign. It shows that the markets are actually less scared than they were previously right now in cryptocurrency and bitcoin briefly also, of course, broke above that twenty thousand dollar mark before coming back down theres a very strong resistance level to twenty thousand dollar mark weve been hovering just Above and just below it for a very long time now – and i imagine well be there for quite some time until we get some news on the next interest rate hike – which people arent too sure which way thats going to go.
But in the event that we get a 0.5 basis point hike, i do think that were gon na break above that 20 000 level once again, because that is a sign that the markets are actually recovering. In summary, tim draper is honestly just a. I am pretty sure, whoever hired him or the new news station he is at just puts him on there to say controversial stuff to get the people talking around the globe and it works and and its our fault for letting it work. Because youll just say outrageous. Things that have no backing and are wrong most of the time, but regardless of all that, people still go ahead and listen to him and laugh at what he has to say, giving him more attention and more publicity all over youtube, twitter and all of the tv Stations as well, so in summary, i mean yeah hes been wrong on record many times before. You probably shouldnt, listen to anything that he says and just laugh when you see him making silly statements such as the one that he just made with all. That being said, i do think that there is some upside in the crypto markets here in the next. While here i am seeing some signs of the economy recovering, and i do think that crypto will make a slight recovery alongside that as well.