gym crmeThe popular CNBC host is tweeting about crypto once again, but the community may not find the famous stock picker’s cryptic tweet amusing.
This is because Cramer has a reputation in the cryptocurrency industry, providing crypto tips that are often way off the mark or just the opposite of what he predicted. Over the past few years, his predictions and his inconsistent love-hate relationship with cryptocurrencies have become a meme in the community.
Time for crypto!!— Jim Cramer (@jimcramer) 6 July 2022
What Cramer indicated in his tweet “time for crypto” is as yet unknown.
As previously reported, Jim Cramer slammed cryptocurrencies on Tuesday’s episode of CNBC’s Squawk Box, saying that the asset class “has no real value.”
The famous stock picker said that even after the total market cap falls below the $1 trillion mark, there could be many downside opportunities for crypto. As a result of the CNBC host declaring “no real value in crypto” and predicting a further drop in the market, some in the cryptocurrency industry think the market bottom may have been reached.
I’m sorry @JimCramer But I have to agree that your comment is the sharpest sign of crypto in weeks. https://t.co/iKT8his8wr— John E Deaton (204.4K followers beware) (@JohnEDeton1) 5 July 2022
crypto law founder John Deaton Jim Cramer’s statements are the most bullish sign for crypto in weeks.
Sentiment improves a bit
At the time of publication, the Crypto Fear and Greed Index stood at 18, its highest level in the past two months. According to a note from Mysterious Research analysts, the index is now heading towards “fear” territory.
“Cryptocurrency market sentiment has been depressed for several months now, but we are seeing a slight correction this week,” he added.
On July 5, bitcoin peaked at $20,720 before falling to $20,174 at the time of publication. The second quarter saw the world’s largest digital asset fall in value by nearly 60% as a succession of hawkish central banks and high-profile crypto meltdowns shook confidence.