๐ Jim Cramer's Shift on Bitcoin: From Bearish to Bullish
๐ Reversal of Stance:
- Former bear Jim Cramer now bullies Bitcoin.
- Change coincides with BTC surpassing $45,000.
- Acknowledges Bitcoin as a "technological marvel."
๐ฃ๏ธ Journey of Opinion:
- Previously disinterested in October.
- Sold most holdings in 2021 post-China mining crackdown.
- Current shift ahead of expected U.S. regulatory approval for a spot ETF.
๐ผ Regulatory Outlook:
- Speculation around SEC approving spot Bitcoin ETFs.
- January 10 deadlines for multiple ETF decisions.
๐ค Cautious Optimism:
- Cramer is not entirely bullish, hints at a potential "sell the news" scenario.
- Recognizes not all investors are in for the long haul.
๐ Bitcoin's Resurgence:
- Price crosses $45,000 for the first time in 21 months.
- Positive momentum builds, fueled by regulatory expectations.
๐ Closing Thoughts:
- A notable shift in sentiment from a financial personality.
- Bitcoin's technological merit acknowledged amidst an evolving regulatory landscape. #Bitcoin #CryptoMarket #JimCramer #BTC #ETH ๐