Jim Cramer’s Latest Insight: Here’s What Crypto Investors Need to Know
In a recent tweet, Jim Cramer, the host of CNBC’s “Mad Money”, recently reiterated his opinion that a new bull market is already here.
This comes as no surprise given his previous comments on the state of the markets. Back in January, Cramer told investors that the market is in bull mode and that any potential setbacks represent opportunities to buy on a dip.
He stated that the market’s ability to gain surge higher because of strong earnings reports suggested that was more room to run.
Still, earlier today, Cramer tweeted that the U.S. Federal Reserve would maintain monetary tightening and eventually trigger a recession.
Cramer’s views on cryptocurrencies, however, have been less bullish. Last month, he warned cryptocurrency market participants to exercise caution amid the drama surrounding Barry Silbert’s Digital Currency Group. Cramer also advised investors to consider exiting their crypto positions.
He even referred to crypto as “the creation of money by cretins” to highlight his disdain for the asset and described the holders of major altcoins, such as Litecoin, holders as “idiots”.
Moreover, Cramer called on the U.S. Securities and Exchange Commission to clamp down harder on the cryptocurrency market.
Despite the massive surge in Bitcoin in January, Cramer recently warned against entering the crypto space. He advised investors to stay away from cryptocurrencies and instead opt for gold as a hedge against inflation or economic chaos.
He sees the lustrous metal as a much better alternative compared to the world’s most popular cryptocurrency.
While Cramer is now bullish on the stock market, he continues to advise caution for investors in the cryptocurrency space.