Introduction: Bitcoin is a cryptocurrency whose price is affected by many factors, including market supply and demand, policy influence, and technological innovation. In such a complex and uncertain market, some people try to predict the future trend of Bitcoin and provide guidance and advice to investors. However, not all predictions are accurate and reliable, and some are even completely wrong.
This article will take a look at what a well-known market commentator, Jim Cramer, thinks and recommends about Bitcoin, as well as his incorrect predictions about Bitcoin over the past few years.
This article will also explore the psychological impact of investment advice from public figures on Bitcoin investors and how investors should treat such advice.
About Jim Cramer
Cramer has more than 40 years of experience in the investment field. He is a former hedge fund manager and CNBC stock commentator. He is known for his "daring to speak" character. He has a clear position and a unique language style. He often makes "dramatic" expressions, sometimes even without explaining the logic. His views on Bitcoin have also reversed many times, attracting widespread attention.
Cramer's views on Bitcoin have always been changing. He advised investors to sell Bitcoin in 2017, calling it "a scam." However, in 2022, he changed his mind and advised investors to buy Bitcoin.
On November 22, on CNBC's "Mad Money" show, he once again shared his insights on the market, which aroused enthusiastic response from the market.
Cramer's review of Bitcoin comments
Jim Cramer, a well-known American stock analyst, has made negative comments many times, calling Bitcoin a "scam" and advising investors to sell it. However, after the price of Bitcoin soared to more than $68,000, Cramer changed his tune and advised investors to increase their Bitcoin holdings.
Cramer's views on Bitcoin can be divided into three stages:
In January 2020, Cramer called Bitcoin a "scam" on his show and advised investors to sell it.
In December 2021, Cramer admitted on the show that his views on Bitcoin were wrong and advised investors to increase their holdings of Bitcoin.
In November 2023, Cramer again said that Bitcoin is the "currency of the future" and advised investors to buy at low levels.
The reason for Cramer’s change of heart on Bitcoin is unclear. Some believe he was convinced by Bitcoin’s price increase, while others believe he is chasing a trend.
Kramer's influence on the public
In August 2022, a cryptocurrency trader claimed that he doubled the size of his portfolio simply by trading in the opposite direction of what Cramer suggested.
On December 5, 2022, when Bitcoin was trading at $17,150, Cramer urged investors to sell all cryptocurrency investments regardless of the cost, saying it was "never too late to sell a bad position." Since then, Bitcoin prices have risen 118%, and Bitcoin is currently changing hands at $37,390.
Institutions are also interested in Cramer’s views, and an ETF called “Long Cramer Tracker ETF” was born.
Since the fund was listed in March this year, the return rate of this ETF is only 2.2%. During the same period, the broad-based index of the US stock market has risen by at least 15%.
Ironically, the agency also plans to launch the unique "InVerse Cramer Tracker ETF".
This ETF actually attracted twice the investor subscription amount of the previous "Cramer Long Tracking" ETF.
The above cases show that the investment advice of influential figures such as Cramer has a great psychological impact on Bitcoin investors. When they recommend an asset, many investors will follow their advice. This can lead to large fluctuations in asset prices.
Cramer's views and suggestions have caused a lot of controversy and criticism. Some people think he is deliberately misleading, some think he is ignorant, and some think he is interested. In any case, Cramer's attitude towards Bitcoin reflects a skeptical and distrustful view of cryptocurrencies, which may affect the decision-making of some investors, but may also inspire the confidence and persistence of some investors.
The future trend of Bitcoin will still depend on a variety of factors such as market supply and demand, policy impact, technological innovation, etc., rather than the words and suggestions of a certain individual.
Summarize:
Cramer's multiple reversals have attracted widespread attention from cryptocurrency investors and have also caused people to think about the investment advice of public figures. Some people believe that the remarks of public figures have a certain guiding role and may affect investors' decisions.
It can be seen from Cramer’s remarks that his attitude towards Bitcoin is not stable, which also reflects the limitations of investment advice from public figures.
Therefore, when public figures issue investment advice, they should carefully consider its accuracy and influence. When making investment decisions, investors should think independently and fully understand the risks. #比特币 #JimCramer
