Jim Cramer Says Bitcoin Is Topping Off, Time To Buy Bitcoin?

Scott Matherson

Last Updated: June 11, 2024 10:07 am

3 mins read

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Counter-trading CNBC’s Jim Cramer has gone from being a meme to something that Bitcoin investors have begun to take seriously. As the inverse of what Cramer says has usually been the case, taking a stand in the opposite direction has proved positive for some investors. Once more, Cramer has shared his thoughts on where the BTC price is headed, so is it time to buy or sell?

Jim Cramer Calls The Bitcoin Top

In a new episode, the Mad Money host, a show hosted on the CNBC Network, called out a possible top for Bitcoin. Now, the price of BTC has been steadily rising this week, which saw the price eventually rise above $47,000 for the first time in almost two years.

Following this brief surge, Cramer took to the show to reveal that he thinks the price of the asset has reached a possible top. However, instead of the usual one-sided argument, Cramer would go on to tell investors to buy BTC if they want. So while the former hedge fund manager did call for Bitcoin to top out, he is not advising investors to not buy the cryptocurrency.

“Let’s stop fooling around,” Cramer states. “You want Bitcoin, buy Bitcoin. I think Bitcoin is topping out, by the way. So I’m going to say enough is enough.” This statement tends to play on both sides of the coin for now, no longer discouraging investors from buying the asset.

BTC shows strength ahead of SEC decision | Source: BTCUSD on Tradingview.com

BTC Goes The Opposite Way Of Cramer

Going through the path of counter-trading Jim Cramer would actually see investors buying Bitcoin at this time. If the same inverse correlation holds, then the Bitcoin price could be rocketing up from here once more.

This school of thought did not just emerge out of nowhere as even as recently as last week, the act of counter-trading Cramer seems to remain a profitable venture. Last week, Cramer had taken to his Mad Money show to praise Bitcoin after being previously bearish. Cramer explained that Bitcoin cannot be killed, saying BTC was “here to stay” and the likes of Charlie Munger were blind to it.

However, in true Cramer fashion, the price of Bitcoin would tank not long after, crashing from above $45,000 to below $42,000 on January 3. This is also not limited to crypto as there was an ETF dedicated to investing in the opposite direction of Cramer’s stock picks, although that ETF was closed in 2023.

Nevertheless, as news of Cramer’s new stance hits the headlines, it’ll be interesting to see where the BTC price goes from here. If it follows previous trends, then the BTC price could be headed toward a price crash once again.

Featured image from Siam Blockchain, chart from Tradingview.com

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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