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Jim Craimer says Crypto “Went from $3 trillion to $1 trillion. Why Should it Stop at $1 Trillion?”

Garrett Meifert

Summary: CNCB “Mad Money’s” Jim Craimer expressed a bearish outlook on the Crypto space. He has expressed mixed outlooks on the space, having one year ago saying he was exiting BTC to ETH, and then about a year later today sharing he thinks NFTS, which are on the ETH blockchain, as “terrible assets.” Craimer, went on ...

CNCB “Mad Money’s” Jim Craimer expressed a bearish outlook on the Crypto space. He has expressed mixed outlooks on the space, having one year ago saying he was exiting BTC to ETH, and then about a year later today sharing he thinks NFTS, which are on the ETH blockchain, as “terrible assets.”

Craimer, went on to say “A lot of people are in crypto. Crypto really does seems to be imploding from $3 trillion to $1 trillion, why should it stop at $1 trillion? There’s no real value there.” 

Craimer has historically been lukewarm about crypto In 2018, when BTC dropped from its previous all-time high at $20,000 to $3,000, Cramer famously said the “sun was setting” on Bitcoin and the crypto industry. 

In early June, he also predicted the price would continue down in the near term, by the end of the month, to $12,000

He went on to say, “You look at these companies you’ve never heard of and they blew up over the weekend, and you say to yourself, holly cow, there is $600 million that has gone down the drain.” “How many places can Sam Bankman Fried save.”

The comments were ready to point out Craimers faults though, with one user saying “time to load up on crypto,” and another saying “Didn’t Cramer tell viewers to buy Ethereum …NOW says there is no value there.”

Craimers past crypto investment advice has seemed hit or miss, although he has a lot of experience in the equities markets so he may have some useful guidance. Time will tell.

Jim Cramer says Crypto “Went from $3 trillion to $1 trillion. Why Should it Stop at $1 Trillion?”

CNCB “Mad Money’s” Jim Cramer expressed a bearish outlook on the Crypto space. He has shared diverse perspectives on the space. One year ago, he was exiting BTC to ETH, and then about a year later, he said he thinks NFTS, which are on the ETH blockchain, are “terrible assets.”

Cramer went on to say, “A lot of people are in crypto. Crypto really does seems to be imploding from $3 trillion to $1 trillion, why should it stop at $1 trillion? There’s no real value there.” 

Cramer has historically been lukewarm about crypto. In 2018, when BTC dropped from its previous all-time high at $20,000 to $3,000, Cramer famously said the “sun was setting” on Bitcoin and the crypto industry. 

In early June, he also predicted the price would continue down in the near term, by the end of the month, to $12,000

He went on to say, “You look at these companies you’ve never heard of, and they blew up over the weekend, and you say to yourself, holly cow, there is $600 million that has gone down the drain.” “How many places can Sam Bankman Fried save.”

The comments were ready to point out Craimers faults, though, with one user saying “time to load up on crypto,” and another saying, “Didn’t Cramer tell viewers to buy Ethereum …NOW says there is no value there.”

Craimers past crypto investment advice has seemed hit or miss, although he has significant experience in the equities markets, so he may have some helpful guidance. Time will tell.

Author: Garrett Meifert

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