When he encouraged viewers to purchase Bitcoin, Mad Money host Jim Cramer recently attracted a lot of attention from cryptocurrency market enthusiasts worldwide.
In a recent episode of Mad Money, a program that provides insights into stocks and markets, Jim Cramer emphasized the importance of buying cryptocurrencies, particularly Bitcoin.
Given that the price of Bitcoin saw slight increases today, it appears that Cramer’s remarks caused quite the commotion in the larger cryptocurrency markets.
Bitcoin and Jim Cramer
There seems to have been discussions about the ongoing drama involving Jim Cramer and Bitcoin for a while now. In October of this year, Cramer is said to have advised his viewers to sell their Bitcoin holdings due to the state of the market.
Cramer asserted in the statement that the current state of the market presents a favorable opportunity for investors and traders to pull out of the cryptocurrency market. But his most recent statements appear to go against what he previously believed.
Furthermore, Cramer said that if someone truly likes Bitcoin, they should purchase it in the most recent episode of CNBC Lightning Round. The broader cryptocurrency markets seem to have been quite agitated by Cramer’s remarks, as evidenced by the slight increases in the price of Bitcoin today. In addition, Jim said that this was how he had always thought and that, for a while, he enjoyed it. It was this way of thinking that helped him become wealthy. He may have acted hastily, but the money was already in Still, Bitcoin saw a small increase in value after Cramer’s most recent comments.
An assessment of the price of bitcoin
As of this writing, the price of Bitcoin has increased marginally by 1.87% to $37,259.54. In addition, the token saw a spike of 1.21% during the previous week and a notable rise of 21.74% during the previous month.
Nevertheless, the trading volume over the course of a day saw a notable decline of 25.12%, valued at $21.55 billion at the time of writing.
In the meantime, the previously mentioned price increase appears to be consistent with Jim Cramer’s most recent observations.