Famous CNBC host expects BTC to keep going down to $12,000, says Novogratz and Saylor are trying to prevent further fall
CNBC’s “Mad Money” host Jim Cramer visited Squawk Box to talk about Bitcoin and traditional markets.
The host shared his skepticism regarding Bitcoin reversing and starting to go up. He mentioned that recent appearances of Galaxy Digital’s Mike Novogratz and MicroStrategy’s CEO Michael Saylor on CNBC earlier this week were “a stand show.”
He thinks these two top bitcoin investors had to set it up because “they can’t let it go down anymore”, so they took on the role of people saying this price drop is a norm before BTC went up. arrow. This is a normal situation for crypto prices.
Finally, Cramer shared that he believes Bitcoin is going to go down to $12,000, the level where “it was before this whole fiasco began.”
The ‘Mad Money’ host again said that Bitcoin “is really nothing”, and he mocked Joe Kernen when he said it was a representation of the nascent technology of the blockchain.
In his earlier interviews, Cramer stated that he believed Bitcoin and Ethereum to be “the most legitimate” cryptocurrencies, and he said that people should be allowed to invest in them as long as they do not consider them risk-free assets.
