Bitcoin ETF

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 <p>Jim Cramer, the well-known host of CNBC’s Mad Money show, has once again voiced doubt about Bitcoin’s future, indicating that the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency will face challenges in recovering amid an ongoing selloff. Cramer’s consistently negative stance has garnered criticism and speculation within the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency community, with some anticipating a possible shift to bullish sentiment given his history of inaccurate predictions.</p>
 <h4 class="wp-block-heading" id="h-cramer-s-pessimistic-predictions">Cramer’s Pessimistic Predictions</h4>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="802" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="jim cramer" class="wp-image-56465 ewww_webp" sizes="(max-width: 1024px) 100vw, 1024px" data-src-img="https://cdn.thebittimes.com/images/2024/01/25/8606dbcaf3e1e6a081e3c1a4c0fbab05.webp" data-src-webp="https://cdn.thebittimes.com/images/2024/01/25/8606dbcaf3e1e6a081e3c1a4c0fbab05.webp.webp" data-srcset-webp="https://cdn.thebittimes.com/images/2024/01/25/8606dbcaf3e1e6a081e3c1a4c0fbab05.webp.webp 1024w, https://cdn.thebittimes.com/images/2024/01/25/8606dbcaf3e1e6a081e3c1a4c0fbab05.webp.webp 300w, https://cdn.thebittimes.com/images/2024/01/25/8606dbcaf3e1e6a081e3c1a4c0fbab05.webp.webp 768w, https://cdn.thebittimes.com/images/2024/01/25/8606dbcaf3e1e6a081e3c1a4c0fbab05.webp.webp 380w, https://cdn.thebittimes.com/images/2024/01/25/8606dbcaf3e1e6a081e3c1a4c0fbab05.webp.webp 550w, https://cdn.thebittimes.com/images/2024/01/25/8606dbcaf3e1e6a081e3c1a4c0fbab05.webp.webp 800w, https://cdn.thebittimes.com/images/2024/01/25/8606dbcaf3e1e6a081e3c1a4c0fbab05.webp.webp 1040w" data-srcset-img="https://cdn.thebittimes.com/images/2024/01/25/8606dbcaf3e1e6a081e3c1a4c0fbab05.webp 1024w, https://cdn.thebittimes.com/images/2024/01/25/8606dbcaf3e1e6a081e3c1a4c0fbab05.webp 300w, https://cdn.thebittimes.com/images/2024/01/25/8606dbcaf3e1e6a081e3c1a4c0fbab05.webp 768w, https://cdn.thebittimes.com/images/2024/01/25/8606dbcaf3e1e6a081e3c1a4c0fbab05.webp 380w, https://cdn.thebittimes.com/images/2024/01/25/8606dbcaf3e1e6a081e3c1a4c0fbab05.webp 550w, https://cdn.thebittimes.com/images/2024/01/25/8606dbcaf3e1e6a081e3c1a4c0fbab05.webp 800w, https://cdn.thebittimes.com/images/2024/01/25/8606dbcaf3e1e6a081e3c1a4c0fbab05.webp 1040w" data-eio="j">
  <noscript><img decoding="async" width="1024" height="802" src="https://cdn.thebittimes.com/images/2024/01/25/8606dbcaf3e1e6a081e3c1a4c0fbab05.webp" alt="jim cramer" class="wp-image-56465" srcset="https://cdn.thebittimes.com/images/2024/01/25/8606dbcaf3e1e6a081e3c1a4c0fbab05.webp 1024w, https://cdn.thebittimes.com/images/2024/01/25/8606dbcaf3e1e6a081e3c1a4c0fbab05.webp 300w, https://cdn.thebittimes.com/images/2024/01/25/8606dbcaf3e1e6a081e3c1a4c0fbab05.webp 768w, https://cdn.thebittimes.com/images/2024/01/25/8606dbcaf3e1e6a081e3c1a4c0fbab05.webp 380w, https://cdn.thebittimes.com/images/2024/01/25/8606dbcaf3e1e6a081e3c1a4c0fbab05.webp 550w, https://cdn.thebittimes.com/images/2024/01/25/8606dbcaf3e1e6a081e3c1a4c0fbab05.webp 800w, https://cdn.thebittimes.com/images/2024/01/25/8606dbcaf3e1e6a081e3c1a4c0fbab05.webp 1040w" sizes="(max-width: 1024px) 100vw, 1024px">
  </noscript>
  <figcaption class="wp-element-caption">
   Source: CNBC/MarketWatch
  </figcaption>
 </figure>
 <p>Having previously managed hedge funds and co-founded Thestreet.com, Cramer utilized social media to express his views on Bitcoin’s recent price fluctuations. Following the cryptocurrency’s decline below $39,000, he commented,</p>
 <p><strong>“Now that Bitcoin is down approximately 20% from its peak, I anticipate a strong resistance, but it won’t endure due to insufficient capital influx. New theme: Number Go Down.” </strong></p>
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 <p>Cramer’s earlier characterization of the price drop as a “nasty beginning” to a substantial downward trend underscores his pessimistic perspective.</p>
 <p>Also Read: Bitcoin ETF Trade Volume Reaches $9.7 Billion in Three Days</p>
 <h4 class="wp-block-heading" id="h-the-reverse-cramer-effect">The Reverse Cramer Effect</h4>
 <p>Critics on the X social media platform were quick to highlight Cramer’s past inaccuracies in predicting Bitcoin’s price movements. Many referenced the “reverse Cramer effect,” a phenomenon where Cramer’s bearish forecasts are seen by some as a potential signal for a market reversal towards a bullish trend. Some investors interpret Cramer’s skepticism as an indication that Bitcoin might have reached a bottom.</p>
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 <h4 class="wp-block-heading" id="h-sec-approved-spot-bitcoin-etfs-and-market-response">SEC-Approved Spot Bitcoin ETFs and Market Response</h4>
 <p>Cramer’s recent remarks coincide with the U.S. Securities and Exchange Commission’s approval of spot Bitcoin exchange-traded funds (ETFs) on January 10. Initially, the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency market experienced a surge, propelling Bitcoin’s price above $47,000 in anticipation of ETF approval. However, the subsequent selloff, contrary to expectations, resulted in a decline in BTC’s value.</p>
 <h4 class="wp-block-heading" id="h-cramer-s-perspective-on-bitcoin-etfs">Cramer’s Perspective on Bitcoin ETFs</h4>
 <p>While consistently warning about Bitcoin’s declining price, Cramer clarified that he is not vehemently opposed to spot Bitcoin ETFs. Recognizing BTC’s 15-year history and established position, he expressed a willingness to allow individuals to speculate on the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency. However, they had to conduct thorough research.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="576" src="https://cdn.thebittimes.com/images/2024/01/25/1ecd61a9d05d44d225f75f016179aa2e.webp" alt="Bitcoin" class="wp-image-119960" srcset="https://cdn.thebittimes.com/images/2024/01/25/1ecd61a9d05d44d225f75f016179aa2e.webp 1024w, https://cdn.thebittimes.com/images/2024/01/25/1ecd61a9d05d44d225f75f016179aa2e.webp 300w, https://cdn.thebittimes.com/images/2024/01/25/1ecd61a9d05d44d225f75f016179aa2e.webp 768w, https://cdn.thebittimes.com/images/2024/01/25/1ecd61a9d05d44d225f75f016179aa2e.webp 380w, https://cdn.thebittimes.com/images/2024/01/25/1ecd61a9d05d44d225f75f016179aa2e.webp 550w, https://cdn.thebittimes.com/images/2024/01/25/1ecd61a9d05d44d225f75f016179aa2e.webp 800w, https://cdn.thebittimes.com/images/2024/01/25/1ecd61a9d05d44d225f75f016179aa2e.webp 1160w, https://cdn.thebittimes.com/images/2024/01/25/1ecd61a9d05d44d225f75f016179aa2e.webp 1280w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source – Bitcoin.com
  </figcaption>
 </figure>
 <h4 class="wp-block-heading" id="h-insights-from-other-market-figures">Insights from Other Market Figures</h4>
 <p>Contributing additional viewpoints, BitMEX founder Arthur Hayes shared his <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> of Bitcoin, forecasting a potential support range between $30,000 and $35,000. Hayes disclosed his purchase of options with a $35,000 strike price and indicated plans to begin “bottom fishing” once the coin falls below this threshold.</p>
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 <h4 class="wp-block-heading" id="h-current-bitcoin-price-and-market-stability">Current Bitcoin Price and Market Stability</h4>
 <p>At the latest update, BTC is trading at $39,762.21, displaying no significant declines. The stability in the current price prompts a closer examination to determine whether Cramer’s predictions will materialize or if the market might witness an unforeseen reversal.</p>
 <p><strong>Also Read: How the Bitcoin ETF Launch Could Fuel Altcoin Rallies?</strong></p>
 <p>Jim Cramer’s bearish sentiment on the top <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency remains a topic of discussion within the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> community. It further elicits reactions ranging from skepticism to speculation about a potential market turnaround. The approval of spot Bitcoin ETFs by the SEC has introduced complexity to market dynamics, challenging conventional expectations. Given the unpredictable nature of the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> market, investors are advised to exercise caution. Investors are urged to conduct thorough research before making decisions based on the perspectives of influential figures like Cramer and Hayes.</p>
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<div class="cs-entry__tags">
 <ul>
  <li>bitcoin</li>
  <li>btc</li>
  <li>crypto</li>
  <li>cryptocurrency</li>
  <li>jim cramer</li>
 </ul>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-cramer-s-doubts-vs-hayes-bottom-fishing-what-lies-ahead-tbt77628.html">https://thebittimes.com/bitcoin-cramer-s-doubts-vs-hayes-bottom-fishing-what-lies-ahead-tbt77628.html</a></p>

Bitcoin: Cramer’s Doubts vs. Hayes’ Bottom Fishing - What Lies Ahead?

TheBitTimes

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