Jim Cramer, the host of the American financial program “Mad Money,” who is sarcastically referred to as a contra-indicator in the crypto community, recently stated in an interview that Bitcoin is a technological miracle and will continue to exist, causing concern among the community about whether the BTC peak has been reached.
Against the backdrop of positive expectations for the potential approval of a Bitcoin spot ETF by the U.S. Securities and Exchange Commission (SEC) this month, BTC has been on a continuous offensive since the beginning of 2024, reaching a high of $45,879.63 in the afternoon of the 2nd, setting a new 20-month high.
In the context of the market’s optimism, Jim Cramer, the well-known host of CNBC’s financial program “Mad Money,” stated in an earlier interview with CNBC that digital assets are a reality that people must face, and Bitcoin will continue to exist and cannot be eliminated.
Jim Cramer: Bitcoin will continue to exist
Jim stated that even though cryptocurrencies have long faced scrutiny and pressure from the SEC, even the Oracle of Omaha, Warren Buffett, and his ally Charlie Munger, ignore them, Bitcoin still demonstrated vitality and resilience in the just-concluded 2023. BTC is a technological miracle and will continue to exist.
Bitcoin peak reached?
However, Jim also pointed out that the success of Bitcoin does not mean that all cryptocurrencies will continue to exist. On the contrary, Bitcoin is the exception.
It is also worth noting that on December 5, 2022, when the trading price of Bitcoin was around $17,150, Jim loudly urged investors to sell all cryptocurrencies at any cost and stated that “it’s never too late to sell bad positions.” But one month after his bearish call on Bitcoin, BTC instead began a strong rebound, earning Jim the title of “contra-indicator” in the market.
This time, he publicly expressed optimism about Bitcoin again, and whether BTC can continue to rise or be influenced by Jim’s contra-indicator status amid many positive expectations such as spot ETFs, halving, and the Federal Reserve’s relaxed monetary policy, remains to be observed over time.