Inverse Cramer? Jim Cramer Says Bitcoin and Cryptos Are “Due For a Push Today”

CNBC's Jim Cramer expresses confidence that Bitcoin and other crypto assets are due for a push today, but investors remain skeptical.
Senior Editor
Jim Cramer
Jim Cramer

Key Points

Jim Cramer predicts that Bitcoin and other cryptocurrencies are due for a push today.
He warns of excessive speculation in the market, likening it to the dot-com bubble of the year 2000.
Investors skeptical about his prediction due to the 'Inverse Cramer' trend.

Jim Cramer, the host of CNBC’s Mad Money show, has once again stirred controversy with his latest comments about crypto. In a recent X post, he predicted that cryptos, including Bitcoin, which hovers around $108,239, were “due for a push today.” However, Cramer’s history of predictions often moving in the opposite direction has raised concerns among investors.

Cramer Warns of Market Speculation and Crypto Correction

Despite his projection of an imminent upsurge, Cramer likened the current state of the market to the speculative bubble of 2000, a reference to the dot-com market crash. Adding further fuel to the warning, Cramer cited Jamie Dimon’s (CEO of JPMorgan) use of the “cockroach metaphor” to highlight the growing speculation in the crypto market. 

He noted that while Dimon recently said “cockroaches are ending,” his company recently announced a massive $1.5 trillion U.S. security fund. According to him, this initiative unintentionally stirred a huge speculative wave in the market.

The implication is clear: while this influx of capital could drive short-term growth, it might also lead to an unsustainable rise in speculative assets like Bitcoin and other cryptocurrencies. Notably, he urged the broader crypto market to pay attention to the growing speculative frenzy before they incur losses. Meanwhile, he urged them to reduce their exposure to Bitcoin and other cryptocurrencies. 

Bitcoin Remains Bearish 

Despite Cramer’s call for a crypto rally, Bitcoin’s price has remained under bearish pressure. As of the latest data, it is trading at $107,586, down by 0.94% in the last 24 hours. This drop follows a slight fluctuation around the $108,000 range, providing more evidence that the market is not yet responding in the way Cramer anticipated.

The price movement and the growing market concerns have reinforced the “Inverse Cramer” trend, where his predictions often go in the opposite direction. Historically, his crypto forecasts have been met with resistance, and as he called for a crypto rally, Bitcoin instead experienced a downturn. 

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Evans Kelvin

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