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Counter-trading CNBC’s Jim Cramer has gone from being a meme to one thing that Bitcoin traders have begun to take significantly. As the inverse of what Cramer says has often been the case, taking a stand in the other way has proved optimistic for some traders. Once extra, Cramer has shared his ideas on the place the BTC value is headed, so is it time to purchase or promote?

Jim Cramer Calls The Bitcoin Top

In a brand new episode, the Mad Money host, a present hosted on the CNBC Network, called out a potential high for Bitcoin. Now, the worth of BTC has been steadily rising this week, which noticed the worth ultimately rise above $47,000 for the primary time in nearly two years.

Following this temporary surge, Cramer took to the present to disclose that he thinks the worth of the asset has reached a potential high. However, as a substitute of the same old one-sided argument, Cramer would go on to inform traders to purchase BTC if they need. So whereas the previous hedge fund supervisor did name for Bitcoin to top out, he isn’t advising traders to not purchase the cryptocurrency.

“Let’s stop fooling around,” Cramer states. “You want Bitcoin, buy Bitcoin. I think Bitcoin is topping out, by the way. So I’m going to say enough is enough.” This assertion tends to play on either side of the coin for now, not discouraging traders from shopping for the asset.

BTC exhibits energy forward of SEC determination | Source: BTCUSD on Tradingview.com

BTC Goes The Opposite Way Of Cramer

Going by means of the trail of counter-trading Jim Cramer would truly see traders shopping for Bitcoin right now. If the identical inverse correlation holds, then the Bitcoin value could possibly be rocketing up from right here as soon as extra.

This college of thought didn’t simply emerge out of nowhere as at the same time as lately as final week, the act of counter-trading Cramer appears to stay a worthwhile enterprise. Last week, Cramer had taken to his Mad Money present to praise Bitcoin after being previously bearish. Cramer defined that Bitcoin can’t be killed, saying BTC was “here to stay” and the likes of Charlie Munger had been blind to it.

However, in true Cramer trend, the price of Bitcoin would tank not lengthy after, crashing from above $45,000 to beneath $42,000 on January 3. This can also be not restricted to crypto as there was an ETF devoted to investing in the other way of Cramer’s inventory picks, though that ETF was closed in 2023.

Nevertheless, as information of Cramer’s new stance hits the headlines, it’ll be attention-grabbing to see the place the BTC price goes from right here. If it follows earlier developments, then the BTC value could possibly be headed towards a value crash as soon as once more.

Featured picture from Siam Blockchain, chart from Tradingview.com

Disclaimer: The article is supplied for academic functions solely. It doesn’t characterize the opinions of NewsBTC on whether or not to purchase, promote or maintain any investments and naturally investing carries dangers. You are suggested to conduct your individual analysis earlier than making any funding selections. Use data supplied on this web site fully at your individual danger.