Cramer has revealed his crypto prediction for 2023, creating excitement on crypto Twitter.
CNBC Mad Money host Jim Cramer revealed his 2023 crypto market outlook in a tweet today.
According to the pundit, 2023 will be another bearish year for the nascent asset class, expressing skepticism that people are still interested in the crypto markets.
“As i predict another weak year for crypto, i do ponder how many people are still involved, now many millions of people….,” Cramer tweeted.
As i predict another weak year for crypto, i do ponder how many people are still involved, now many millions of people….
— Jim Cramer (@jimcramer) January 2, 2023
Meanwhile, the TV personality’s comments are unsurprising, considering his anti-crypto stance since prices plummeted last year. Known for his wavering perspective on investments, not too long ago, the Mad Money host expressed excitement about the emerging markets as prices soared, predicting a substantial 40% rally for Ethereum’s price last April that never materialized.
As is the norm with crypto Twitter, Cramer’s latest anti-crypto statements have been met with bullish excitement, with many asserting that the bottom is in. Notably, Cramer’s reputation for making wrong calls in the stock and crypto markets have made him a meme in the crypto space and generated significant interest in counter-trading him.
As highlighted by prominent analysts IncomeSharks (@IncomeSharks), Cramer tends only to promote investments when prices are rising and take a U-turn when prices plummet. According to IncomeSharks, Cramer’s strategy is akin to buying at the top and selling at the low.
— IncomeSharks (@IncomeSharks) January 3, 2023
The Mad Money host’s statements come despite analysts sharing metrics indicating that Bitcoin may be in undervalued territory. Notably, Bitcoin is yet to print two consecutive yearly bearish candles in its history.