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Jim Cramer sees bullish signs in the stock market, is it time to sell Bitcoin?

  • 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.  

Also read: Celsius Network ponzi scheme contagion spread to Tether’s parent company, USDT drops below $1 peg

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

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.

Author

Ekta Mourya

Ekta Mourya

FXStreet

Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.

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