The “Jim Cramer signal” has just sounded! Is the worst of the bear market over?

A weathercock that tells the time – The presenter of the program “Mad Money” on CNBC, Jim Crameris obviously also a bit crazy (mad) with cryptocurrencies. He already has changed radically several times on Bitcoin (BTC) and its ilk. When Classes cryptos are in good condition, it adore. When the same prices are at their lowest, it is hated. Anyway, Jim Cramer signaled each time with a terrible timing.

Jim Cramer Recommends Selling on Crypto Market Low

In recent weeks, with the fall of FTXthat bitcoin price hadn’t seen such a low rating since the end of 2020. And if the trading adage recommends trying to “buy low and sell high,” the host is Jim Cramer I don’t think I agree with that at all.

On his program “Mad Money” on Monday, December 5, 2022, the presenter strongly advised his audience to sell their cryptocurrencyif they have any left.

“You can’t just beat yourself up over the head and say, ‘hi, it’s too late to sell‘. The truth is, it’s never too late to sell a terrible position, and that’s what you have if you own these so-called digital assets. »

Hard to believe that this same person had previously advised everyone to invest in bitcoin. Himself invest $500,000 in the king of cryptos and predict a BTC at 1 million dollars. His change of heart and his anger are probably related to the fact that he clearly didn’t not “earned” (sold against the highs), which is supposed to be learned very early in investing/trading.

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Mad Money host cuts a suit for Sam Bankman-Fried

His acidity in regards to cryptos goes so far as to have him say that XRP, Dogecoin (DOGE), Cardano (ADA) and Polygon (MATIC) could drop much more, perhaps down to zero ». Why these particular projects? We don’t get the slightest hint of an explanation from Jim Cramer. Maybe he invested in it with theirs all time high, last year ? And he wanted them left on FTX in addition to not reselling them?

In any case, the host of CNBC’s financial show works a lot more clear when it comes to people. Actually, Jim Cramer don’t fall asleep by lamentations of Sam Bankman-Fried (SBF), the former managing director of FTX. He does not believe for a second that SBF has anything to do with it more scams engaged in his companies.

” [Sam bankman-Fried] a total, disgusting villain that makes me sick. (…) He stole, but he is sorry. (…) I am no longer a journalist when it comes to this guy. He’s a brainless idiot. (…) Saying we’re sorry means nothing. If you mix [les fonds de vos entreprises], if you have not kept accounts, there are violations of the law. (…) American prosecutors don’t care about intent at all, but what interests them is: did you break the law? »

In short, it’s Jim Cramer very optimistic against the cryptocurrency industry. It must be admitted that despite the emergence of very classic embezzlement in the FTX case, Sam Bankman-Fried spotty of his misdeeds this young asset class. The good news in all of this is that Jim Cramer appears to be one of a kind counter indicator crypto market trends: coming soon the end of bear market ?

The events of recent weeks and the bankruptcy of FTX are there to remind us to be careful in this still very young ecosystem. Get into the habit of healthy distrust. To buy your cryptocurrencies, sign up now on eToro and start getting acquainted with the exciting world of blockchain technology (commercial link).

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