CNBC gym crme Today’s market is called bearish “Crypto Monday”.
“I don’t want to make fun of it,” Cramer said on CNBC’s “Squawk on the Street” podcast. “Many young people and people who had borrowed money are going to leave today if they are not careful.”
Cramer called the reform shocking. His remarks represent a change from last year when he had a more positive outlook on crypto.
While Cramer says he didn’t want to make fun of the recession, Crypto Twitter had no problem making fun of Cramer’s joke. Cramer’s mixed record on financial analysis has recently led to “Inverse Cramer ETF“A hypothetical exchange-traded fund that recommends the opposite of anything Cramer.
Solana co-founder Anatoly Yakovenko predicted yesterday that Cramer’s outlook would turn bearish. “A major fund must also close and Cramer will utter a bearish crypto prose,” he tweeted.
Almost at the sign, the “Mad Money” host and popular meme target soon said he was receiving a pessimistic view of crypto from many in Silicon Valley, adding that some called the digital asset “a thief.”
Cramer told podcast hosts Carl Quintanilla and David Faber that he told SEC Chairman Gary Gensler that he was getting 8% with his Ethereum; Gensler told her it was too good to be true.
During the “Squawk” podcast, Cramer explained that the marketing push for crypto has led people to bet on digital assets, bringing up a Crypto.com ad with Matt Damon saying, “Fortune favors the brave.” Is.”
“Here’s what happens in these situations,” Cramer said. “People who are heavily invested in crypto will come and make a stand—it’s Braveheart,” says Cramer, referencing the 1995 Mel Gibson film depicting William Wallace’s fight against English rule in Scotland.
Cramer, who has admitted to owning bitcoin and ethereum, posted his message on Twitter, “Crypto – Big crypto lovers need to buy and stabilize,” Kramer tweeted.
Not everyone agreed with the former hedge fund manager. “Any words @jimcramer?” Hedgehog, an investment research company, tweeted a meme of two people looking at a rock. The meme read, “Bet he still won’t admit he made a mistake.”
“No, they need the Fed to stop withdrawing liquidity,” replied Christopher VecchioSenior Strategist for DailyFX. “Nothing changes until the gross winds change direction.”
“As a person who lives in SF, and knows many ‘traditional’ tech execs and VCs, I don’t know anyone who says crypto is a thief,” tweeted Xand Finance kevin lew, “Maybe he is referring to altcoins, because that is not true.”
Dogecoin co-creator billy marcus was more direct in his critique of Cramer’s ideas. “Jim ya shut up sometimes,” Marcus replied to a Kramer tweet.
According to CoinMarketCap, despite pushback from crypto Twitter, it appears the market is heading towards a “cryptocurrency winter”, as the combined market capitalization of all cryptocurrencies fell to $969 billion today.
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