The crypto community is in an uproar following a recent market statement from Jim Cramer, host of CNBC’s Mad Money. Known for his bold market predictions, Cramer’s comments have historically served as an unintentional contrarian indicator, particularly for cryptocurrency investors. His latest statement has once again highlighted the peculiar tendency of his forecasts, often contrary to market results.
The crypto community is in an uproar following a recent market statement from Jim Cramer, host of CNBC’s Mad Money. Known for his bold market predictions, Cramer’s comments have historically served as an unintentional contrarian indicator, particularly for cryptocurrency investors. His latest statement has once again highlighted the peculiar tendency of his forecasts, often contrary to market results.
Markets saw mixed action on Tuesday, with stocks gaining as traders looked for more clues about when the Federal Reserve might start cutting rates. Cryptocurrencies rather experienced a decline, with Bitcoin leading other major companies to trade in the red, with a drop of 1.10% in the last 24 hours to trade at $63,399.
Reacting to the market action, Jim Cramer tweeted “Beware of the bears” next to a GIF image that bore the caption “I’ll find you.”
The crypto community’s reaction to Cramer’s statements is a mix of skepticism and amusement. Many debate the implications of his words, and some see them as an indication of the opposite of what he thinks.
The community’s reaction to Cramer’s latest statement is particularly notable given the current uncertainty in the market.
Bitcoin rallied late last week after new U.S. jobs data eased concerns that the economy was overheating and Fed Chair Jerome Powell ruled out raising interest rates as the next step. central bank.
However, other conflicting economic statistics, such as an increase in the labor cost index, may indicate that the true direction of inflation remains uncertain.
Robinhood reported Monday that SEC law enforcement staff had written the company a notice from Wells, suggesting it had reached an initial determination to recommend enforcement action, the latest indication that the agency did not is backing down from its years-long offensive against digital assets.
Santiment, an on-chain analytics company, suggests that given social trends, the news surrounding Robinhood could impact market activity throughout May.
