Jim Cramer Urges Crypto Investors to Ignore ‘Crypto Cheerleaders’ By CoinEdition

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Jim Cramer Urges Crypto Investors to Ignore ‘Crypto Cheerleaders’

Cryptocurrency Jan 24, 2023 04:30AM ET

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Jim Cramer Urges Crypto Investors to Ignore ‘Crypto Cheerleaders’

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Jim Cramer advises against investing in crypto and recommends gold instead.

According to Cramer, charts indicate Bitcoin is a risky asset, not a safe investment.

Cramer’s predictions have previously backfired on multiple occasions.

CNBC’s Jim Cramer advised against investing in cryptocurrencies on Monday, despite Bitcoin’s recent price rally this month. Cramer warned investors to avoid cryptocurrency investments and favored gold as a hedge against inflation or economic upheaval.

He cited an analysis from Carley Garner, senior commodities market strategist and broker at DeCarley Trading. Furthermore, while consenting to Garner’s views, Cramer stated:

The charts, as interpreted by Carley Garner, suggest you need to ignore the crypto cheerleaders now that bitcoin’s bouncing. And if you seriously want a real hedge against inflation or economic chaos, she says you should stick with gold. And I agree,

According to Garner, who analyzed the daily chart of Bitcoin futures and the tech-heavy Nasdaq-100 going back to March 2021, the two markets move practically in tandem. This means that Bitcoin is not a safe investment but rather a risky asset. Therefore, Cramer asserts gold is a better option than the mo ...

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Jim Cramer Urges Crypto Investors to Ignore ‘Crypto Cheerleaders’

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