Elon Muskthe owner of Twitter and the richest person in the world, in a sarcastic tweet to the recent prediction Jim Cramer He has reacted about the market situation. Cramer, who hosts CNBC’s Mad Money, has often advised people on how to invest, but his predictions have often turned out to be wrong.
Cramer said a few days ago that people should use the rise in the price of cryptocurrencies in recent days as an opportunity to sell their capital. With this advice, Cramer indirectly said that he expects the price of cryptocurrencies to not continue to grow; However, the crypto market maintained its upward trend and Bitcoin traded at $27,000 for the first time in nine months.
Billy Marks, one of Dogecoin’s creators (better known by the Twitter account Shibetoshi Nakamoto) tweeted that “Cramer is doing a good job.” This tweet was met with reactions from users and Elon Musk also decided to join the discussion.
Elon Musk tweeted that he supports a “reverse Cramer” strategy. Musk’s point was that investors would be better off betting against any stocks picked by the Mad Money host. “Cramer’s reverse force is stronger,” Musk tweeted. He used the famous phrase The Force is Strong, which is related to the films of the Star Wars series.
Matthew Tuttle, CEO of Tuttle Capital Management, says that if Jim Cramer insists on buying a particular stock, you should sell that stock as soon as possible. According to Tuttle, if Cramer says he hates a stock or urges you to sell, you should go long (buy) that stock.
A number of crypto market participants have repeatedly said that not listening to Jim Cramer’s advice can be a very good investment strategy, because he usually does not make correct predictions about the future of digital currencies.
to report CryptoPotatoCramer said at the beginning of 2022 that the correction of Bitcoin and Ether is probably over and the price of cryptocurrencies is going to grow strongly. However, last year was one of the worst for the entire crypto industry, and a number of the largest companies, including the FTX exchange, were shut down. Last year, the price of Bitcoin fell by 65%.
In late 2022, Cramer suggested investors sell their cryptocurrencies as soon as possible. At that time, the price of Bitcoin was around $17,000, but this price has now grown by more than 50%.
Earlier last month, Cramer told investors to buy shares of Silicon Valley Bank. About a month after this recommendation, in an unbelievable turn of events, Silicon Valley Bank was shut down by US regulators.
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