- Jim Cramer, the host of CNBC said he sees bullish signs emerging in the stock market.
- Bitcoin has enjoyed a high correlation with S&P 500 and US stocks, therefore Cramer’s prediction alarmed investors aware of the “Inverse Cramer” effect.
- Assets have climbed higher nearly every time after Cramer’s bearish predictions, fueling the “Inverse Cramer” narrative.
Jim Cramer, an author on Squawk on the Street and host of CNBC Mad Money stated that he sees bullish signs in the stock market. Cramer’s bearish statements on crypto, urging holders to sell have had the inverse effect on the asset’s price. Therefore most predictions have actually been wrong, suggesting an “inverse relationship” or “negative correlation” between Cramer’s calls and the asset’s price. Investors have noted the “Inverse Cramer” narrative playing out in the US stock market as well.
Jim Cramer says that he sees bullish signs in the stock market
Jim Cramer, the CNBC Mad Money host says that he observed bullish signs in the stock market. This has raised concerns in the investor community in light of the “Inverse Cramer” narrative.
Cramer’s bullishness is expected to be met with a decline in stock prices. Bitcoin’s correlation with S&P 500 is relatively high in 2023 and a decline in stock prices could have a similar impact in cryptocurrencies.
Changpeng Zhao of Binance critiques Jim Cramer
Changpeng Zhao (CZ), the CEO of Binance critiqued Cramer’s recent crypto prediction. CZ took to Twitter on January 14 to call out well-known CNBC talking head Jim Cramer for his recent comments about crypto.
BTC/USD price chart
The catalyst was Bitcoin’s price rally to the $21,000 level, on January 13, for the first time since November 2022. Cramer advised that investors get out of crypto on January 9, and the skeptic’s prediction was false.
The Binance CEO spotted an ideal opportunity to remind the crypto community to “ignore the FUD.”
Is it time to sell Bitcoin?
Jim Cramer’s recent comments have raised an important question, whether it is time to sell Bitcoin. According to the “Inverse Cramer” narrative, the recent comments of Cramer’s bullishness for the stock market can be considered a bearish signal for the asset.
Bitcoin, Ethereum and cryptocurrencies have yielded double-digit gains in the two week period from January 3 to January 17. If the Inverse Cramer narrative stands true one more time, BTC price could plummet.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.