Bitcoin reached an all-time high of $99,645 on Friday night and was a stone’s throw away from reaching the $100,000 milestone. Cryptocurrency enthusiasts and investors were glued to their screens, staring at the charts to keep up with the numbers. Just when investors thought Bitcoin would breach the $100,000 mark, CNBC’s Mad Money host Jim Cramer mentioned BTC live on TV.
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When Jim Cramer mentioned Bitcoin, the leading cryptocurrency dipped from $99,000 to $96,000. Here’s what Jim Cramer said live on TV: “All I can tell you is own Bitcoin, that’s a winner.”
https://twitter.com/elonmusk/status/1860470986438545485
For the uninitiated, Jim Cramer is known for delivering predictions that go the opposite way and even has an ‘Inverse Cramer’ ETF to his name. The ‘Inverse Cramer’ phenomenon has tight roots in social media which goes against what he just predicted. For example: As soon as he went bullish on BTC, the cryptocurrency went into reverse gear in the charts.
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Even Tesla CEO Elon Musk reacted to Jim Cramer mentioning Bitcoin on television minutes before it was about to reach $100,000. He tweeted a ‘laugh out loud’ emoji with a ‘100%’ true emoji indicating that the ‘Inverse Cramer’ is real.
Jim Cramer & Bitcoin
Historically, when Jim Cramer turned bearish on Bitcoin, its price skyrocketed in the charts. The opposite has also occurred when he turns bullish on cryptocurrency. Read here to know a few wrong predictions the CNBC host delivered on his TV show Mad Money.
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A total of $205 million was liquidated from the cryptocurrency market during the weekend causing Bitcoin to dip. However, the overall markets remain in bullish territory and Bitcoin could hit $100,000. It’s only a matter of ‘when’ that BTC will reach the historic milestone, where everyone, including Jim Cramer, will celebrate.
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At press time, Bitcoin was trading at $97,483 and is down nearly 1% in the day’s trade. BTC is also down just 2.5% from its all-time high of $99,645, which it reached on Friday.
