© Igor Faun Bitcoin is up 9%. Feel free to Cramer: Bitcoin expert Neil Jacobs
- Jim Kramer said he would sell his car, citing concerns about Sam Bankman Fried’s market manipulation.
- Bitcoin evangelist Neil Jacobs noted that bitcoin is up 9% since Cramer’s announcement.
- Bitcoin expert Ali, shared a photo on Twitter explaining the psychology behind the cryptocurrency market by Wall St.
Jim Cramer of CNBC Mad Money said during a live broadcast that he is going to sell his bitcoins. However, according to Bitcoin evangelist Neil Jacobs’ tweet on March 18, Bitcoin is up 9% since Cramer’s announcement.
Bitcoin price is up 9% since Jim Cramer said, “I’m going to sell my bitcoin.” Don’t listen to Kramer. That was 4 days ago. #bitcoin pic.twitter.com/8MzKtyS1Lt
— Neil Jacobs (@NeilJacobs) March 17, 2023
“Don’t listen to Kramer. That was 4 days ago. Jacobs advised while sharing a video of Cramer responding to the caller about lingering skepticism toward traditional banking and whether the Federal Reserve has increased the investment appeal of Bitcoin.
In response, Cramer acknowledged the rise in BTC’s price but warned that the market was being manipulated by Sam Bankman-Fried, the former CEO of now-defunct crypto exchange FTX, who faced controversy. Kramer advised against assuming that bitcoin is no longer being manipulated. He also mentioned that he was once a supporter of Bitcoin but has changed his stance. he added,
No, Bitcoin is a strange animal. I will say honestly, I think he is being manipulated. I would sell my two bitcoins straight on the rally.
Meanwhile, Bitcoin expert Ali shared an image explaining the psychology behind the cryptocurrency market in his March 18th tweet titled “Psychology of the Market Cycle” by Wall St.
The document highlighted that between BICAC and the recovery of prices in the market lies the so-called “through” decline, which constitutes the point of maximum financial opportunity.
Furthermore, the image depicted the emotions a trader experiences at different points in the market when the price is fluctuating. For example, when the value falls at the beginning of a rally, the investor might think, “This rally is going to fail like the others.” Meanwhile, at the peak of the rally, the trader will feel euphoria. “I am a genius! We will all be rich!”
Likewise, when prices start to fall, a trader may go through a range of emotions including anxiety and denial, then panic and disbelief.
Post-bitcoin value is up 9%. Don’t Hire Cramer: Bitcoin Expert Neil Jacobs first appeared in Coin Edition.
