In an unexpected twist, Jim Cramer, the host of CNBC’s Mad Money and a well-known cryptocurrency critic, has reignited a heated debate with his recent remarks. On the second day of 2024, Cramer posed a seemingly innocuous question that resonated within the crypto community, raising eyebrows given his historical skepticism towards digital assets.
While the immediate consequences of Cramer’s question may be unclear, enthusiasts, familiar with his bearish views on cryptocurrencies, couldn’t resist delving into the potential implications of his inquiry.
Cramer’s skepticism in the past has given rise to the “Inverse Cramer” phenomenon, where investors often take the opposite stance to his predictions. This contrarian strategy gained significant traction, leading to the creation of an Inverse Cramer ETF by investment firm TUTTLE in October 2022.
Despite Cramer’s doubtful inquiry, Bitcoin is currently making headlines for its bullish performance. Priced at $45,879, Bitcoin has reached its highest value since April 2022, marking a 3% increase on the second day of the year and propelling its market capitalization to an impressive $892.65 billion. Over the past calendar year, BTC‘s capitalization has surged by an astonishing 277%, surpassing the half-trillion-dollar mark.
As the crypto market observes Cramer’s skepticism, the lingering question remains: will Bitcoin continue its upward trajectory in 2024, defying doubts raised by one of its most vocal critics? The crypto community awaits the unfolding of this dynamic narrative in the coming months.
