Monday, June 27, 2022
Home Crypto News Market CNBC’s Mad Money Host Jim Cramer Says Bitcoin Will “Rally In Coming...

CNBC’s Mad Money Host Jim Cramer Says Bitcoin Will “Rally In Coming Months, But Won’t Reach Old Highs ”

- Advertisement -

The CNBC personality noted during an analysis that BTC could soar in the next few months.

Jim Cramer, a CNBC personality, has made favorable predictions about Bitcoin (BTC), saying the top asset class will surge in value in the next few months. 

Cramer made the positive comments by analyzing a chart shared by Tom DeMark, in which he suggests Bitcoin will have a relief in the coming months and will soar above the levels it is currently trading. 

Despite the fact that Cramer does not see Bitcoin reaching its previous highs of above $69,000 in the coming years, he is confident that a “nice relief” is coming for BTC investors in the coming months. 

“I can’t countenance buying crypto here, but if you still own some and you want out, I’m betting that from this, if you’re another dip down, you might get a better price to get out,” Cramer said. 

Cramer Makes Further BTC Analysis

The host of CNBC’s Mad Money noted that DeMark, the founder and CEO of DeMARK Analytics, has over the years developed a 13-step buy-and-sell countdown that enables him to identify the top and bottom of the largest cryptocurrency. 

Cramer, while providing a breakdown of DeMark’s recent chart, examined the performance of Bitcoin from April 2022 to date. 

The CNBC host said a number of DeMark’s chart patterns move in similar directions before the buys and sells ultimately exhaust each other. 

Further analyzing the chart, Cramer spotted an important aspect in the chart, which showed that Bitcoin never plunged 50% from 2020 until the past weeks due to the collapse of the Terra ecosystem tokens and rising inflation. 

“When you get a decline this ugly … it often does structural damage to the asset in question. If you’re thinking long-term,… it could take many years for bitcoin to come near its old highs, maybe even decades. It’s possible we’ll never see them again,” Cramer concluded. 

Cramer has always been a Bitcoin enthusiast and has urged people to invest in the asset class. Last year, the CNBC host advised an American who won a $731 million lottery to invest in BTC

Cramer Dismisses Investors’ Hope of Seeing BTC at Previous ATH

Bitcoin has recorded one of its major dips since the inception of the asset class. The cryptocurrency which started the year above $46,000 has fallen to $20,000. 

While a number of factors are responsible for BTC’s massive dip, investors are hoping for the asset class to rally back to its previous all-time high (ATH) of $69,047, a prospect that Cramer does not think will happen in the near future. 

- Advertisement -


The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.


Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Crypto Winter Survival Guide: Frax (FRAX), PAX Gold (PAXG), And RoboApe (RBA)

How long will crypto winter last? That is the question on the lips of every crypto participant right now. Many newbies are scared at...

The Exciting Evolution Of Blockchain Gaming With Xchange Monster (MXCH) & Decentraland (MANA)

The words decentralized finance and game, these two industries have been combined together and from this combination the GameFi sector was birthed. For many...

TRON Price On The Up As Risk Of USDD Depegging Falters

  Tron Price is showing that the USDD depegging pressure is releasing. window.coinzilla_display = window.coinzilla_display || ; ...

Bitcoin Only Line Of Defense Is Holding But How Far? As Number Of BTC Exchange Inflows Increase

  Bitcoin does not have sufficient support below 20,000 dollars. window.coinzilla_display = window.coinzilla_display || ; ...

Baby Doge Coin Team to Burn 50 Quadrillion BabyDoge At Once

Baby DogeCoin Team to Burn 50 Quadrillion Coins Tomorrow After Community’s Approval.  window.coinzilla_display = window.coinzilla_display || ; ...

SEC Chairman Piles Pressure on Altcoins, Says ‘Bitcoin Is the Only One I Am Willing To Say Commodity’ 

For SEC Chairman Bitcoin is the only crypto that is a commodity. window.coinzilla_display = window.coinzilla_display || ; ...

Shiba Inu Soars Above 40% In Seven Days As Unification Brings Shibarium Launch Closer

SHIB has put smiles on investors' faces after its massive rally in the past seven days.  window.coinzilla_display...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.