Jim Cramer, the host of the American financial program “Mad Money,” who is sarcastically referred to as a contrary indicator in the cryptocurrency community, recently stated in an interview that Bitcoin is a technological miracle and will continue to exist, causing concern among the community about whether BTC has reached its peak.
Against the backdrop of positive expectations for the potential approval of a Bitcoin spot ETF by the U.S. Securities and Exchange Commission (SEC) this month, BTC has been on a continuous offensive since the beginning of 2024, reaching a high of around $45,879.63 in the afternoon of the 2nd, marking a new 20-month high.
In the context of market optimism, Jim Cramer, the well-known host of CNBC’s financial program “Mad Money,” stated in an earlier interview with CNBC that digital assets are a reality that people have to face, and Bitcoin will also continue to exist and cannot be eradicated.
Jim Cramer: Bitcoin will continue to exist
Jim stated that even though cryptocurrencies have long faced scrutiny and pressure from the SEC, even investment guru Warren Buffett and his comrade Charlie Munger turn a blind eye to them, Bitcoin has still shown vitality and resilience in the past year. BTC is a technological miracle and will continue to exist.
Is the peak of Bitcoin here?
However, Jim also pointed out that the success of Bitcoin does not mean that all cryptocurrencies will continue to exist. On the contrary, Bitcoin is the exception.
It is also worth noting that on December 5, 2022, when the trading price of Bitcoin was around $17,150, Jim loudly urged investors to sell all cryptocurrencies regardless of cost and stated that “it’s never too late to sell bad positions.” However, one month after he disparaged Bitcoin, BTC instead embarked on a strong rebound, earning Jim the title of a market “contrary indicator.”
This time, he publicly expressed optimism about Bitcoin again. Whether BTC can continue to rise under the many positive expectations such as spot ETFs, halving, and the Federal Reserve’s relaxation of monetary policies, or whether it will be influenced by Jim’s contrary indicator and fall, remains to be observed over time.