Despite previous skepticism, Jim Cramer now firmly believes that Bitcoin is here to stay.
Cramer stated his belief that 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 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 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 Bitcoin crash, despite its 150% recovery in 2023.
Amusingly, some traders suggest Cramer’s new 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 Bitcoin’s staying power. But his questionable predictions make some analysts doubtful, even interpreting his praise as a potentially bad sign.
