Bitcoin (BTC) Price Turns Green Amid Cold Call from CNBC’s Jim Cramer by U.Today

© Reuters. Bitcoin (BTC) Price Turns Green Amid Cold Call from CNBC’s Jim Cramer

U.Today – In an unexpected turn of events, CNBC’s Mad Money host Jim Cramer has once again sparked heated debate with his recent comments. On the second day of the new year 2024, Cramer, a well-known critic of cryptocurrencies, posed a seemingly harmless question that he resonated with in the crypto community.

While Cramer’s question may not have immediate consequences, enthusiasts, well familiar with his bearish opinions on the digital asset, could not help but analyze the possible implications.

Cramer’s skepticism has in the past given rise to the “reverse Cramer” phenomenon, in which investors often choose to take a stance opposite to his predictions. This contrarian strategy gained significant momentum, leading to the creation of an Inverse Cramer ETF in October 2022 by investment firm TUTTLE.

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Despite Cramer’s misgivings, he is making headlines for his bullish behavior. With a current price of $45,879, Bitcoin has reached its highest value since April 2022, registering a 3% increase on the second day of the year and boosting its market capitalization to an impressive $892.65 billion.

BTC to USD Over the last calendar year, BTC capitalization increased by a staggering 277%, surpassing the half-trillion-dollar mark.

As the cryptocurrency market watches Cramer’s skepticism play out, the question remains: will he continue his upward trajectory into 2024, defying the doubts raised by one of his harshest critics?

This article was originally published on U.Today.

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