Jim Cramer: Bitcoin price is “peaking”

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In a recent episode of CNBC’s “Mad Money,” Jim Cramer, a well-known figure in the field of financial commentary, made a bold statement about Bitcoin, suggesting that the cryptocurrency has “peaked.”

“Stop wasting your time. If you want Bitcoin, buy Bitcoin. I think Bitcoin is peaking.”

Jim Cramer: Bitcoin is peaking…#BTC let’s go! 🚀 pic.twitter.com/Y7xgqa5clH

— Cheddar Flow (@CheddarFlow) January 9, 2024

Contrarian indicator?

Cramer is often considered a contrarian indicator in the trading community, a reputation that stems from his past market predictions.

This was demonstrated when Cramer praised Bitcoin’s resilience on January 2, marking a significant shift from his previous skepticism.

Despite his renewed confidence in Bitcoin, saying it “will survive,” the cryptocurrency price fell below $41,000 the next day.

In October, Cramer predicted a sharp decline for Bitcoin, but contrary to his prediction, the price of the digital currency increased by an impressive 150% in 2023.

This has led traders to view his recent comments on Bitcoin as a potential bullish signal.

Cramer bullish on tech stocks

Cramer highlighted the potential of tech stocks in a recent episode.

“God, don’t give up on Apple. Please stop selling Nvidia. Let’s go back to Microsoft. And don’t forget about the yuan. You ignore these stocks, you take your risk,” he said.

His attention specifically turned to the latest advances in artificial intelligence, specifically mentioning Nvidia’s new generation of PC artificial intelligence chips unveiled at the Consumer Electronics Show.

Cramer believes these developments could have a significant impact on consumer behavior and the tech industry as a whole.