Despite previous skepticism, Jim Cramer now firmly believes that itcoin">Bitcoin is here to stay.
Cramer stated his belief that itcoin">Bitcoin is resilient and has an enduring future, marking a change from his previous doubtful views. His comments are sparking discussion in crypto circles.
Cramer emphasized itcoin">Bitcoin is an unkillable “technological marvel” that people must recognize will persist. He cited SBF’s downfall as a pivotal moment and the SEC’s ongoing resistance.
However, Cramer believes SEC approval of a itcoin">Bitcoin spot ETF, long-awaited by many, may spark selling as a “sell-the-news event” rather than further gains.
Some analysts are still skeptical of Cramer’s analysis given his poor track record of predictions. In October, he incorrectly forecasted a itcoin">Bitcoin crash, despite its 150% recovery in 2023.
Amusingly, some traders suggest Cramer’s new itcoin">Bitcoin optimism may conversely signal a bearish outlook. They disagree an ETF approval will cause selling.
In summary, despite past skepticism, Cramer now strongly argues for itcoin">Bitcoin’s staying power. But his questionable predictions make some analysts doubtful, even interpreting his praise as a potentially bad sign.
