{"id":18732,"date":"2023-03-15T04:28:00","date_gmt":"2023-03-15T04:28:00","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/i-would-sell-my-bitcoin-right-into-this-rally-markets-and-prices-bitcoin-news\/"},"modified":"2023-03-15T04:28:00","modified_gmt":"2023-03-15T04:28:00","slug":"i-would-sell-my-bitcoin-right-into-this-rally-markets-and-prices-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/i-would-sell-my-bitcoin-right-into-this-rally-markets-and-prices-bitcoin-news\/","title":{"rendered":"‘I Would Sell My Bitcoin Right Into This Rally’ \u2013 Markets and Prices Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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The host of Mad Money, Jim Cramer, says he would still sell bitcoin despite the failures of major banks and growing public distrust in the banking system and the Federal Reserve. \u201cBitcoin is a strange animal,\u201d he said, asserting that the price of the cryptocurrency is \u201cbeing manipulated up.\u201d<\/strong><\/p>\n

Jim Cramer\u2019s Recommendations<\/h2>\n

The host of CNBC\u2019s Mad Money show, Jim Cramer, says he would sell bitcoin into this rally as the price of BTC<\/a> jumped following the collapse of several major banks. Cramer is a former hedge fund manager who co-founded Thestreet.com, a financial news and literacy website.<\/p>\n

Responding to a caller\u2019s question on Monday\u2019s Mad Money show about whether the \u201ccontinued distrust\u201d in the banking system and the Federal Reserve has \u201cstrengthened the investment case for bitcoin,\u201d Cramer acknowledged that the price of BTC<\/a> has gone up, but firmly replied:<\/p>\n

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No \u2026 Bitcoin is a strange animal. I will say point-blank, I think it\u2019s being manipulated up \u2026 I would sell my bitcoin right into this rally.<\/p>\n<\/blockquote>\n

\u201cIt\u2019s being manipulated the whole time by Sam Bankman-Fried [SBF]. So, please don\u2019t assume therefore that it\u2019s not still being manipulated,\u201d Cramer stressed, referring to the disgraced former CEO of the collapsed crypto exchange FTX.<\/p>\n

The Mad Money host added: \u201cBelieve me, I had been a believer<\/a> one time in bitcoin. Not here, not now.\u201d<\/p>\n

Many social media users view Cramer\u2019s suggestion to sell bitcoin as a buy signal, citing his history of giving poor advice. There is even an inverse Cramer exchange-traded fund<\/a> (ETF), which seeks to provide investment results that are the opposite of the results of the investments recommended by Cramer.<\/p>\n

Following the collapses of Silicon Valley Bank and Signature Bank, clips of Cramer\u2019s Mad Money show resurfaced on social media showing him advising investors to buy stocks of both banks.<\/p>\n

Cramer advised investors to buy Silicon Valley Bank<\/a> stock last month; the bank was shut down by regulators last Friday. He also recommended Signature Bank<\/a>\u2018s stock as a good investment in April last year, almost one year before it was closed down by the New York State Department of Financial Services.<\/p>\n

What do you think about the recommendations by Mad Money host Jim Cramer? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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