- Cramer’s request that Bitcoin investors sell their holdings is not surprising.
- The Mad Money host previously said that Bitcoin would not be able to withstand a recovery.
Jim Cramer, presenter of CNBC’s Mad Money, has once again offered Bitcoin investors advice, this time urging them to sell their assets. Despite falling below $38,000 earlier in the day, Bitcoin is again showing signs of optimism.
After a day of gains of 0.91 percent, BTC was trading at $39,826 as of this writing as per data from CoinMarketCap. Moreover, the trading volume is down 18.56%. Based on the recent recovery, Jim Cramer believes that investors should “roll out” their holdings now so that they may likely bag more profit before any upcoming crash.
Not Surprising for Investors
Cramer has been keeping tabs on Bitcoin’s development recently, and he saw a promising beginning for the currency earlier this week as its recovery rally restarted. After his inconsistent posture over the last few days, Cramer’s request that Bitcoin investors sell their holdings is not surprising.
Cramer previously said that Bitcoin would not be able to withstand a recovery because of a shortage of inflows, and this was before the cryptocurrency saw a 20% decline. The Grayscale GBTC drop was a factor in his comments. The Mad Money host had previously voiced his disapproval of Bitcoin’s prospects on Monday in a twitter post where he said, “Unlikely that Bitcoin finds its footing.”
According to the community, “Cramer’s curse” usually happens whenever Jim Cramer predicts the future of equities or cryptocurrencies.After hearing his forecasts, some investors start to move in the other way, which is counter to his projections.
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