CNBC’s Mad Money host Jim Cramer raised concerns in the crypto community with a bullish statement on Bitcoin after Nvidia. Known for inverse effect, Cramer predicted a breakout in Nvidia stock but it actually tanked 17% on Monday. This has attracted the attention of Tesla CEO Elon Musk while also triggering speculation about Bitcoin prices. Nevertheless, sentiments across the crypto market are bullish with BTC reflecting recovery over the past 24 hours.

Crypto Community Debate Over Inverse Jim Cramer on Bitcoin

Jim Cramer, a former hedge fund manager, called Bitcoin a ‘great thing to have’ in a portfolio, adding that people should own BTC. The community is dubious about his statement because his previous statements have turned out to be the opposite.

JUST NOW – JIM CRAMER: “you should own Bitcoin, Bitcoin is a great thing to have in your portfolio”

oh no pic.twitter.com/m6IdAssu2G

— Inverse Cramer (@CramerTracker) January 28, 2025

Recently, Cramer said that Nvidia shares ‘could be breaking out.’ However, Nvidia shares plunged by around 17% on Monday. Interestingly, Elon Musk responded to the recent Inverse Cramer effect on Nvidia, saying “No kidding.”

This time, Jim Cramer’s statement is on Bitcoin and the community is on the lookout as the opposite could happen again. Arthur Hayes, for one, has already predicted a mini-financial crisis where Bitcoin prices could fall to $70,000 before marking a mega rally.

Bullish Sentiments Around Bitcoin

Bitcoin has bullish sentiments despite the recent market crash. MicroStrategy has acquired 10,107 BTC tokens to take the total holdings to 471,107 for approximately $30.4 billion. Michael Saylor’s MicroStrategy has already achieved a BTC yield of 2.90% YTD, triggering anticipation that a broader recovery is on the horizon.

Bitwise CIO Matt Hougan has also hinted that Bitcoin and Ethereum recovery would eventually happen. He signaled that Bitcoin had historically bounced back with higher returns after every decline and in the long run. Also, the Power Law Model has predicted that Bitcoin could end 2025 within the range of $170k and $200k.

Bitcoin Price Rise

Bitcoin price is up by 3.34% over the past 24 hours, exchanging hands at $102,747.94, which is also up by 1.24% in the last 7 days and 8.21% in the last 30 days. Moreover, trading volume has increased by 89.28% to $77.41 billion in the last 24 hours.

Bitcoin prices were down a day before after DeepSeek’s new model made waves across the AI Industry. But, it is speculated that the DeepSeek saga could be a win for IBIT and Trump’s Bitcoin push. It has been called a ‘Sputnik moment’ for the US and MacroScope has stated that the trend could benefit to push for Bitcoin strategy wherein the US makes it a national priority. This is further backed by Bitcoin advocate James Lavish as he has said that people selling Bitcoin have no idea what they have right now.

That said, it is recommended to conduct research and risk assessment before investing in Bitcoin, or any other cryptocurrency. The market is highly volatile and even statements like the one from Jim Cramer about Bitcoin can instantly bring a shift in portfolios.

The post Jim Cramer Targets Bitcoin After Nvidia, Elon Musk Reacts appeared first on CoinGape.

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Filed under: News - @ January 28, 2025 7:29 am