Signals historically associated with inverse bets may spell better days for Bitcoin (Bitcoin) As the world's largest cryptocurrency investor, bulls await significant regulation on exchange-traded fund (ETF) products in the US
Jim Cramer, a former hedge fund manager and host of CNBC's Mad Money, declared on Monday's TV segment that Bitcoin is “at an all-time high.” he claimed Bitcoin was “here to stay.”
“Let's stop fooling around. If you want Bitcoin, buy Bitcoin. (But) I think Bitcoin has peaked,” Cramer said. Bitcoin regained some gains after rising as much as 8% on Monday, hitting a high of $47,100 for the first time since April 2021.
Kramer's picks tend to move in the opposite direction, the meme that inspired the creation of the Inverse Kramer ETF. This vehicle is designed solely to short sell assets mentioned by personalities on popular shows.
As a result, Cramer has generally been bearish on Bitcoin over the past few years. In early October, during the Sam Bankman Freed trial, he said: “Mr. Bitcoin is about to go down in a big way.” Before that, Kramer he said it was the best seller His Bitcoin holdings decreased in 2021 due to China's mining crackdown.
