Jim Cramer Advises Crypto Investors to Sell….Bull Market Signal!
If we know one thing, it is always wise to expect the opposite of what Cramer advises or suggests….Maybe they should rename the show to “Bad Money”…
Bull Market Signal? Jim Cramer Advises Crypto Investors to Sell
“The host of CNBC’s Mad Money show – Jim Cramer – said cryptocurrency investors still have time to sell their “awful” positions.
His previous advice has often been inaccurate, prompting numerous participants to anticipate a market surge after the latest comments.
Cramer’s on the Spotlight Again
During his most recent show, Mad Money’s host urged investors to cash out their cryptocurrency at all costs. He thinks “it’s never too late” to exit the market, hinting the crypto winter is nowhere near its end:
“You can’t just beat yourself up and say, ‘hey, it’s too late to sell.’ The truth is, it’s never too late to sell an awful position, and that’s what you have if you own these so-called digital assets.”
Cramer believes the most speculative cryptocurrencies that could possibly crash to virtually zero are Ripple (XRP), Dogecoin (DOGE), Cardano (ADA), and Polygon (MATIC).
Most digital currencies have lost a significant chunk of their valuation, with bitcoin being down nearly 65% since the beginning of 2022. In addition, investors’ interest has significantly dropped, while multiple companies experiencing liquidity issues. Former giants in the field, including FTX, BlockFi, Three Arrows Capital, and Celsius, even filed for bankruptcy.
However, the market has been through other “winters” in the past, and many digital currencies endured the turbulence, including bitcoin.”