Cramer Says Buy The Crypto Dip. More Pains Ahead?
| |
Jim Cramer, the host of CNBC's "Mad Money" and a former hedge fund manager, is at it again, this time advising investors to "buy the crypto dip." But here's the thing with Cramer – his advice often leads to the opposite happening, a phenomenon hilariously dubbed the "Inverse Cramer Effect." Let's talk about Ethereum (ETH). Back in March this year, Cramer expressed belief that a spot Ethereum exchange-traded fund (ETF) “will soon bloom.” When the ETFs were eventually approved 3 months later, they turned out to be nothing short of a disappointment and have been struggling to impress ever since. Fast forward to 6 months ago, Cramer endorsed ETH as a great store of value amid US Dollar Concerns. Has ETH been living up to that endorsement? It's like the crypto market loves to prove him wrong. But it's not just ETH; the wider crypto market seems to have its own dance moves when Cramer speaks. Early this year in January, Cramer said “Unlikely that Bitcoin finds its footing.” BTC was $39,556 at the time. It went on to skyrocket to $108k, more than 155% gain, ushering a wider market rally. Now, with Cramer saying "buy the dip," you've got to wonder – is this the signal for more pains ahead? So, if you're thinking about diving into the dip, maybe take a moment to consider the Inverse Cramer Effect. submitted by /u/BigRon1977 |
