- Jim Cramer takes to Crypto Twitter after advising to “Sell Your Bitcoin”.
- The crypto asset rose 18.2% to $26,295.04 in the last 24 hours.
- Kramer receives significant backlash for endorsing the SVB, and turns on “Safety Mode”.
Mad Money host Jim Cramer He is back in the spotlight on Crypto Twitter. It comes a month after Mr. Cramer advised his viewers to buy Silicon Valley Bank shares, which were deemed insolvent last Friday. However, the recent stampede of banks caused by the massive sale of securities at a loss rate didn’t stop the controversial presenter from making a bold claim for Bitcoin (BTC) on last night’s episode of Mad Money.
In the episode, Mr. Cramer asserts that he has never been “a believer in bitcoin. Not here, not now.” The underlying statement stems from Cramer’s view that even decentralization cannot prevent price manipulation by the larger players in the crypto game. Cramer’s condemnation of the leading digital asset has once again led to a double-digit rally for BTC.
Cramer goes low and investors are furious
Meanwhile, Cramer is trending on Twitter on Tuesday afternoon, as cryptocurrency enthusiasts and traders flock to Cramer Dangerous endorsement Silicon Valley Bank and First Republic Bankright before they were torn to pieces by unsuccessful security investments.
Although Cramer’s Twitter profile headline reads “Get in-depth investment advice,” the controversial financial analyst took additional security measures on his account, enabling Safe Mode. Ultimately, this means that people who are not in the same circle will either be automatically banned or need manual approval.
Bitcoin steps away from the bears
As the cryptocurrency community and the stock market were awaiting today’s Fed CPI rate announcement, the leading digital asset, Bitcoin (BTC), found surprising strength. assembly recovery after last week Bull trap. Fortunately, the CPI calculated for February is only 6%, and it has been declining for eight consecutive months. In the end, this was enough to bring BTC back to $25,000 levels for the first time since June 2022.
In fact, Bitcoin managed to break out of the prolonged decline and reclaim the next major support level at $25,000, which historically remains strong in volatile market conditions. At press time, the number one digital asset is trading at $26,295.04, with a daily uptrend of 18.3%, as well as a strong month with a gain of 20.1%.
on the flip side
- Bitcoin’s double-digit rally could also be greatly influenced by reassurances from US authorities that all deposits in Silicon Valley and now bankrupt signature banks will be protected by law.
Why should you bother
It is important to understand how media personalities can influence the cryptocurrency markets.
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