TV personality and financial advisor, Jim Cramer, predicts a significant downturn in Bitcoin’s future, according to a recent statement.
On Tuesday with CNBC, Cramer expressed his bearish stance on the cryptocurrency during an episode of CNBC’s “Squawk on the Street”. He stated, “I can’t be in something where Mr. Bitcoin is about to go down big.”
While it was unclear whether Cramer’s “Mr. Bitcoin” comment was a reference to the ongoing criminal trial of Sam Bankman-Fried in New York, his negative outlook on Bitcoin’s prospects was clear.
Cramer, a former Goldman Sachs employee, has traditionally expressed skepticism towards cryptocurrencies, especially in the context of increasing regulatory scrutiny in the United States. His latest remarks come as Bitcoin continues to display volatility, with predictions of its fluctuating trajectory persisting throughout the month.
Despite Cramer’s bearish forecast, Bitcoin has managed to maintain a support level above $27,000, thanks to the balance between short and long-term holders.
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