Jim Cramer comments incredulously on the current bull run of the crypto market, stating “what has Bitcoin ever done for humanity?”. The price of BTC has surged by more than +150% since the Mad Money host urged investors to ignore the cryptocurrency.
Jim Cramer: “Awesome, what has Bitcoin ever done for humanity?”
The well-known host of Mad Money on CNBC and Squawk on the Street, Jim Cramer returns to comment on Bitcoin, albeit in a more “incredulous” way.
“Jim Cramer says “what has #Bitcoin ever done for humanity?”. $BTC is up 156% since he told investors to sell 11 months ago.”
Jim Cramer couldn’t contain his amazement at this to Bitcoin’s current bull run and of the entire crypto market, with BTC having exceeded the price of 63,000 yesterday.
And in fact, his phrase “what has Bitcoin ever done for humanity?”highlights how Bitcoin’s biggest detractor is remaining “fascinated” by his current performances.
At the time of writing, BTC it is trading at $62,500while his market cap rose to 1,230 billion dollars.
Jim Cramer and his call to ignore Bitcoin last August 2023
The current amazement of Cramer It also derives from a previous statement of his last year August 2023, in which he urged investors to ignore Bitcoin.
Cramer, who was also a hedge fund manager in the USA, invited investors to pay attention to BTC, and prefer gold instead.
A confirmation, therefore, of his anti-crypto position, which, however, had already been taken into consideration at that time by various supporters of the crypto world as a reverse prophecy.
In fact, there are those who have considered that every time Cramer speaks badly of Bitcoin, the currency records a bullish rally. Ironically about Cramer and Bitcoin, there are those who have mocked the TV host by claiming that his invitation was a “bottom signal”.
Well, if you consider the period from August 2023 to today, Bitcoin has recorded a price pump of over +150%.
Bitfinex forecasts speak of BTC at $100,000
While there are those who are still “aware” of what Bitcoin is and what it does, there are those who share their great optimism for the future of BTC.
Lately, Bitfinex analysts they shared theirs bitcoin price prediction, stating that there is all the potential for reach $100,000 or $120,000 by Q4 2024.
This prediction is based on the effects of the introduction of ETFs on spot Bitcoin at the beginning of the year, like a increase in “passive demand”. In practice, for Bitcoin ETF investors, the queen of cryptocurrencies is perceived as a store of value, rather than a volatile tradable asset.
Not only that, during this year there will behalving di Bitcoin which, historically speaking (but not officially) generally precedes a new year of BTC price bull runs.
Source: https://cryptonomist.ch/2024/02/29/jim-cramer-incredulo-bull-run-bitcoin/
