Jim Cramer is a CNBC host and well-known stock market commentator. He hosts a show called “Mad Money”.
Earlier today Jim Cramer said that crypto currency will have no value Interview , By saying this he begins his statement with an analysis.
He said why the crypto market should grow from $3 trillion to $1 trillion and why it should stop at the $1 trillion mark. From Jim’s point of view he sees that cryptocurrency is a valueless asset as its value keeps on decreasing.
Cramer said he believes there is still room for a further drop in the price of the cryptocurrency. The CNBC host warned investors that they should be very careful about investing in cryptocurrencies.
He doesn’t see any value in crypto because it keeps on dwindling and has no government backing like gold.
Cramer continued his market analysis by giving the example of the dotcom bubble. He said that people are investing in those companies which are not earning even a penny but still their share prices are reaching the moon. And in the end the result was that these companies went bankrupt and people’s money was lost.
He compared the same situation with cryptocurrency and said that right now crypto is going through the same phase that Dotcom went through in the early 2000s.
During that time many companies raised capital by selling stock and later went bankrupt. Therefore, Cramer believes that there is a lot of room for decline in crypto.
The top coins and tokens in the crypto world have been going through a setback recently. The total market capitalization has also fallen below $2 trillion, with Bitcoin falling to $19700 and Ethereum by more than 30% in value over the past seven days.
Jim Cramer in general lacks hope in cryptocurrency due to its volatile nature. He has been warning people not to invest in crypto for a long time as it can lead to huge losses.
And right now his prediction is coming true as the top coins are rapidly losing their value. Therefore, we can say that Jim Cramer’s bearish view on cryptocurrency appears to be justified.