CNBC host Jim Cramer offers investors the leading digital asset Bitcoin (BTC) He shared a serious crypto warning that it could drop to the $12,000 range.
In a new interview that took place on CNBC’s Squawk Box, the former hedge fund manager said that prominent Bitcoin bulls and maximalists need to take a stand as soon as possible to sustain the largest crypto asset by market cap.
“I think people involved in Bitcoin should take a different stand… We need some guys to say ‘look, that’s the level’. This is typical of what happens when you’re about to go really big. So they go on the air and say, ‘Listen, I’m a fire…’
“I believe people involved in Bitcoin need to take a different stance… [Saylor, Novagratz] stand up and say, ‘Look, [olması gereken] We need him to say ‘This is the level. This is typical of what happens when you’re about to drop in a really big way [her şey gerçekleştikten sonra] they go on tv…
They have to resist, they can’t let it fall any more. Whoever ‘they’ are, they have to hold on. This thing reminds me of Braveheart.”
Continuing his words by saying that he believes Bitcoin will eventually fall into the $12,000 price range, Cramer also stated that BTC is “not really anything.”
“I think it goes back to the $12,000 price it was before this whole fiasco started.”
“I think it goes to $12,000, where it was before this whole fiasco began,” says @jimcramer front #bitcoins $BTC. pic.twitter.com/7LpOV44z6k
— Squawk Box (@SquawkCNBC) June 17, 2022
These frightening comments by Cramer, to Bitcoin (BTC) and the best smart contract platform to Ethereum (ETH) came just a week after he said he firmly believed in it. The former hedge fund manager said these two biggest cryptocurrencies were the “most legitimate” digital assets, declaring that they should have their place in diversified portfolios despite both claiming to be highly speculative assets that could lose value.
“I think crypto should be part of every investor’s diversified portfolio. I can’t tell you not to own crypto, but I invested in crypto, I invested in Ethereum.”
Cramer also warned investors that they should never borrow money to buy crypto assets, as they tend to show a high degree of price volatility.
“Unlike many people do, I’d be careful not to borrow money to own BTC and ETH because they are speculative… you can borrow money for your house, you can borrow for your car, but don’t borrow crypto. However, I would never try to discourage you from buying crypto because of all the fortunes made with crypto.”
According to CoinMarketCap data, Bitcoin, which is at $ 20,515, is trading with a decrease of 2.5 percent compared to the previous day.
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.