Mad Money Host Jim Cramer Doubts Bitcoin Will Find Its Footing as Selloff Continues

Jim Cramer, the big of CNBC’s Mad Money show, has doubled down connected his bearish bitcoin terms outlook, predicting that the cryptocurrency volition proceed to conflict against the backdrop of a plummeting crypto market. “Unlikely that bitcoin finds its footing,” Cramer emphasized, aft antecedently declaring the caller terms driblet a “nasty beginning” to a important downward spiral.

Jim Cramer Expects Further Bitcoin Price Drop

Mad Money big Jim Cramer weighed successful connected the terms of bitcoin connected societal media level X again this week. Cramer is simply a erstwhile hedge money manager who co-founded Thestreet.com, a fiscal quality and literacy website.

Cramer wrote connected X Tuesday aft the terms of bitcoin fell below $39K: “Now that bitcoin’s down astir 20% from its precocious I expect a beardown basal to beryllium made but it won’t clasp due to the fact that not capable wealth is coming in. New theme: Number Go Down.” On Monday, aft the terms of bitcoin dropped below $40K for the archetypal clip successful 48 days, the Mad Money big wrote:

Unlikely that bitcoin finds its footing.

Many users connected X slammed Cramer for his historically inaccurate bitcoin terms predictions. Several pointed to the reverse Cramer effect, suggesting that a bullish marketplace for bitcoin is connected the skyline since Cramer consistently maintains a bearish stance. Many radical spot Cramer’s bearish bitcoin terms prediction arsenic a motion that the bottommost is in.

Cramer has shared his outlook connected the terms of bitcoin respective times pursuing the support of spot bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) connected Jan. 10. The terms of bitcoin pushed supra $47K successful anticipation of the SEC approving spot bitcoin ETFs but plunged aft the approval.

Last week, Cramer said the terms driblet was a “Nasty opening to the bitcoin selloff.” He besides precocious said BTC is topping out and that bitcoin cannot beryllium killed, emphasizing that it’s a ” technological marvel” that is “here to stay.”

While Cramer has cautioned astir the falling terms of bitcoin, helium said past week that helium is not “stridently against” spot bitcoin ETFs, noting: “Bitcoin’s been astir for 15 years, it’s reasonably well-established, and I don’t privation to effort to halt anyone from speculating successful this stuff, arsenic agelong arsenic they bash their research.”

What bash you deliberation astir Mad Money big Jim Cramer’s bitcoin terms outlook? Let america cognize successful the comments conception below.