Bearish sign for Bitcoin? CNBC’s Jim Cramer Now Says “Buy the Dip”

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Jim Cramer – the host of the financial TV show ‘Mad Money’ – believed the market had shifted into a bullish mode and presented buying opportunities for investors.

His comments, however, have often been quite inaccurate and inconsistent. The American advised crypto investors to sell their “awful” positions last December and thus limit some losses. However, the market rallied significantly in the following months, with bitcoin up 35% since he made that statement.

Is it time for a market correction?

According to Cramer, the markets have started a new bull run and people should take advantage of it:

“If we’re in a bull market, and I think we are, you have to be prepared. Now we have to prepare for down days because in a bull market they buy opportunities. »

Jim Cramer, Source: CNBC

Stocks have indeed risen, with the Nasdaq up 1.67% in the past 24 hours and the S&P 500 climbing almost 1.5%. However, the cryptocurrency market has not changed much over the past couple of weeks. Bitcoin hovered around $23,000, while the global market cap fluctuated between $1 trillion and $1.1 trillion (according to data from CoinGecko) during this period.

Still, the main cryptocurrency has shown an impressive comeback from the decline of 2022. It was trading at around $16,500 on the first day of the new year, which means its valuation has increased by almost 40%.

Keeping Cramer’s previous comments in mind, the crypto industry could suffer another downturn. It has posted many predictions over the past few years, and often they go in the opposite direction.

US investors said they should sell their BTC holdings in September 2021. Luckily for those who didn’t take the advice, the asset traded an ATH of almost $70,000 two months later.

Here recommended in January last year that the market correction might be over, which means individuals should enter the ecosystem. In contrast, 2022 has been devastating for the cryptocurrency industry and the leading digital asset.

The Schiff/Cramer effect

Some crypto proponents have recently pointed out that bitcoin has climbed double digits since Cramer and Peter Schiff advised investors to withdraw their crypto holdings.

The latter is known as a strong supporter of gold and, logically, recommended people to turn to the precious metal. However, its valuation has only increased by 0.5% since mid-January, while BTC has soared by more than 30%.

Cramersidinvestors is expected to sell its cryptocurrency positions in early December. Bitcoin stood at around $17,500 back then, while currently it is circulating at the $23,000 level.

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