Bitcoin
Bitcoin (BTC)
$58,081.00 0.51506
Bitcoin price
Ethereum
Ethereum (ETH)
$3,137.85 0.29014
Ethereum price
BNB
BNB (BNB)
$534.22 1.23037
BNB price
Solana
Solana (SOL)
$138.66 0.34694
Solana price
XRP
XRP (XRP)
$0.4674060 4.48225
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000164 -0.42061
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000088 -4.5671
Pepe price
Bonk
Bonk (BONK)
$0.0000225 -6.90875
Bonk price
Bitcoin
Bitcoin (BTC)
$58,081.00 0.51506
Bitcoin price
Ethereum
Ethereum (ETH)
$3,137.85 0.29014
Ethereum price
BNB
BNB (BNB)
$534.22 1.23037
BNB price
Solana
Solana (SOL)
$138.66 0.34694
Solana price
XRP
XRP (XRP)
$0.4674060 4.48225
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000164 -0.42061
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000088 -4.5671
Pepe price
Bonk
Bonk (BONK)
$0.0000225 -6.90875
Bonk price
Bitcoin
Bitcoin (BTC)
$58,081.00 0.51506
Bitcoin price
Ethereum
Ethereum (ETH)
$3,137.85 0.29014
Ethereum price
BNB
BNB (BNB)
$534.22 1.23037
BNB price
Solana
Solana (SOL)
$138.66 0.34694
Solana price
XRP
XRP (XRP)
$0.4674060 4.48225
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000164 -0.42061
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000088 -4.5671
Pepe price
Bonk
Bonk (BONK)
$0.0000225 -6.90875
Bonk price
Bitcoin
Bitcoin (BTC)
$58,081.00 0.51506
Bitcoin price
Ethereum
Ethereum (ETH)
$3,137.85 0.29014
Ethereum price
BNB
BNB (BNB)
$534.22 1.23037
BNB price
Solana
Solana (SOL)
$138.66 0.34694
Solana price
XRP
XRP (XRP)
$0.4674060 4.48225
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000164 -0.42061
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000088 -4.5671
Pepe price
Bonk
Bonk (BONK)
$0.0000225 -6.90875
Bonk price

Jim Cramer says ignore the crypto cheerleaders

jim-cramer-says-ignore-the-crypto-cheerleaders
Edited by
News
Jim Cramer says ignore the crypto cheerleaders

Despite recent bitcoin gains, Jim Cramer, host of CNBC’s Mad Money, cautioned investors not to fall victim to crypto euphoria. He advised investors to seek gold as a substitute.

BTC prices higher on Monday

According to Cramer, the value of bitcoin and other cryptos is nearly trading in lockstep which suggests that rather than being a currency or a reliable store of value, they are risky investments.

He continued to say that, given their volatility, it would be absurd for business owners to try and conduct transactions with bitcoin or the shares of Google or Facebook parent companies Alphabet Inc. or Meta Platforms Inc.

On Jan. 23, the price of bitcoin surged further as investors gambled that the Federal Reserve would slow or halt its interest rate reductions. The price of bitcoin reached a high of $23,155.93 on this day.

According to Coin Metrics, the BTC price of the virtual currency increased on Saturday and touched $23,333.83 for the first time since August. Since the beginning of the month, bitcoin has risen by almost 39%.

“Of course, one might own Bitcoin directly in a decentralized wallet, protecting them from counterparty risk. If you wish to use it for anything, the danger is again on the table. Furthermore, as the FTX clients learned, it can be disastrous…However, as you might think, gold is the exact opposite.”

Jim Cramer, TV Investment Personality.

Cramer looked to the daily chart of the tech-savvy Nasdaq-100 and the bitcoin futures dating back to March 2021 to illustrate the analysis from Carley Garner, senior commodity market strategist and trader at DeCarley Trading.

Thus according to Cramer, Garner noted that the two indices are nearly moving in lockstep, which shows that the stock is a risk asset rather than a stable store of value or a currency.