<![CDATA[<figure class="image"><img src="https://cimg.co/news/126275/333449/cramer.jpg" srcset="" width="" class="content-img" alt=""><figcaption>Cramer's Twitter</figcaption></figure>In a characteristic rant on CNBC&rsquo;s Squawk on the Street show on Tuesday, famous financial pundit Jim Cramer proclaimed that he can&rsquo;t be invested in Bitcoin (BTC) &ldquo;Mr Bitcoin is about to go down big&rdquo;.<figure class="media"><oembed url="https://twitter.com/TFTC21/status/1711822520951996616"></oembed></figure>Its unclear where this was a reference to the Bitcoin price itself, or a reference to disgraced ex-FTX CEO Sam Bankman-Friend, who is <a href="https://cryptonews.com/news/sam-bankman-frieds-legal-battle-lawyers-may-already-be-eyeing-an-appeal.htm">currently in trail</a> over the alleged financial crimes he committed during the course of his time as head of the <a href="https://cryptonews.com/news/why-crypto-crash-means-ftx-probably-dead-as-coin-prices-struggle-regulators-freeze-assetshtm.htm">ill-fated exchange</a>.Either way, Cramer is still bearish, a stance he has more-or-less held on Bitcoin since <a href="https://cryptonews.com/news/jim-cramer-i-wouldnt-touch-crypto-million-years-mad-money-host-urges-sec-crack-down.htm">selling most of his holdings in 2021</a> following a crackdown on mining in China.<a href="https://cryptonews.com/news/bitcoin-news/">Bitcoin</a> was last trading in the mid-$26,000s, down nearly 3% on the day amid concerns about hotter-than-expected <a href="https://www.reuters.com/markets/us/us-producer-prices-increase-september-higher-energy-costs-2023-10-11/">US inflation data</a> and the ongoing <a href="https://www.reuters.com/world/middle-east/israel-hamas-war-latest-news-market-response-business-impact-2023-10-09/">Israel/Palestine conflict</a>, as well as following a break below an uptrend that had been in play for nearly one month.<figure class="image"><img src="https://cimg.co/news/126275/333447/btc.jpg" srcset="https://cimg.co/news/126275/333447/responsive-images/btc___media_library_original_1787_717.jpg 1787w, https://cimg.co/news/126275/333447/responsive-images/btc___media_library_original_1200_481.jpg 1200w, https://cimg.co/news/126275/333447/responsive-images/btc___media_library_original_900_361.jpg 900w, https://cimg.co/news/126275/333447/responsive-images/btc___media_library_original_720_289.jpg 720w, https://cimg.co/news/126275/333447/responsive-images/btc___media_library_original_600_241.jpg 600w, https://cimg.co/news/126275/333447/responsive-images/btc___media_library_original_300_120.jpg 300w" width="1787" class="content-img" alt=""></figure><h2 id="strong-does-cramers-bearishness-mean-the-bottom-is-in-strong">Does Cramer&rsquo;s Bearishness Mean the Bottom is In?</h2>But some have responded to Cramer&rsquo;s new bearishness as a sign that the near-term bottom for <a href="https://cryptonews.com/guides/bitcoin/'">Bitcoin</a> may be in.That&rsquo;s because Cramer has become something of a meme over a series of high-profile bad market calls, with some starting to take his market views as a counter-indicator.In 2012, Cramer urged watchers of his show to exit Netflix and Hewlett-Packard, with both stocks pumping over 100% in the following months.In 2015, he gave both Kohl&rsquo;s Corp and Qorvo buy ratings, with both then proceeding to post near-term losses of 2015.While investing degens will continue to find fun in ripping Cramer over his high-profile misses, the truth is that Cramer has put out thousands of stock calls over the year and its not clear that his track record is actually any worse than any other financial pundit.An <a href="https://www.crameretfs.com/">inverse Cramer ETF</a> that seeks to return the opposite results of investments recommended by Cramer is down over 6% in the last six months.Any serious crypto investor probably shouldn&rsquo;t be factoring Jim Cramer&rsquo;s stance into their investment decisions, either by taking his advice or by using him as a counter indicator.
]]>

“Mr Bitcoin Is About to Go Down Big” Claims CNBC’s Jim Cramer – Does That Mean the Bottom Is In?

Table of Contents

Cryptonews.com

Other articles published on Oct 11, 2023

This wallet management system could redefine payments at the intersection of TradFi and crypto

Bitfinex parent company looking to buyback 15M shares at $1.7B valuation

SOL Price Analysis: After Retreating to $22; What Lies Ahead for SOL?

Ethereum's Duel with Bearish Forces: Whales Hold Strong Amidst Market Shifts

OpenZeppelin excludes isContract, urging ecosystem evolution

Is It Too Late to Buy Tezos? XTZ Price Rallies 9% as New Telegram Crypto Casino Raises $725,000

Join our free newsletter for daily crypto updates!