CNBC host Jim Cramer on “Mad Money” crypto currencyHe criticized some of the a projects.
Jim Cramer; He expects altcoins like Ripple (XRP), Cardano (ADA) and Dogecoin (DOGE) to go to zero. According to the host, investors think they have time to sell so they don’t find themselves in a ‘terrible’ situation.
Known for his proximity to the stock market, Cramer believes cryptocurrencies are ‘overvalued’. This overvaluation, he believes, could cause huge losses to investors.
Longtime host of Mad Money Jim Crameralso targeting Tether (USDT), questioning and criticizing the company’s reserves. According to Cramer, the community is trying to keep things strong in some way. Indeed, according to Cramer, cryptocurrencies have very similar characteristics to the dot-com bubble.
Although the popular host’s comments were ridiculed by the community, Cramer correctly predicted that crypto assets would fall further in June.
As we reported as Koinfinans.com, comments were made in the summer that the FED’s interest rate policies would affect crypto assets very hard.
After the collapse of the FTX exchange, the outlook for crypto became even more dire, even as inflation seemed to have peaked.
Despite Cramer’s expectation, Bitcoin did not fall to the level of $ 12,000. It is currently trading around $17,000, although it dropped to a low of $15,479 in November.
Standard Chartered strategist Eric Robertsen recently shared that Bitcoin could drop to $5,000 in 2023.
You can follow the current price action 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.