Menu
  • Latest
  • Prices
  • NFT
  • Coins
    • Bitcoin
    • Ethereum
    • Cardano
    • Ripple
    • Solana
    • Shiba inu
    • Dogecoin
    • Algorand
    • Litecoin
  • GEO
    • Ukraine
    • China
    • India
    • South Korea
    • North Korea
    • El Salvador
    • Switzerland
    • Nigeria
    • Russia
    • Latin America
  • Wiki
Language:

Coin Prologue
  • Latest
  • Prices
  • NFT
  • Coins
    • Bitcoin
    • Ethereum
    • Cardano
    • Ripple
    • Solana
    • Shiba inu
    • Dogecoin
    • Algorand
    • Litecoin
  • GEO
    • Ukraine
    • China
    • India
    • South Korea
    • North Korea
    • El Salvador
    • Switzerland
    • Nigeria
    • Russia
    • Latin America
  • Wiki
  • News

Mad Money’s Jim Cramer Expects Bitcoin to Fall to $12,000

  • Ralph Smith
  • 19/06/2022
  • 1 view
  • 3 minute read
Total
0
Shares
0
0
0
0
0
0
Mad Money's Jim Cramer Expects Bitcoin to Fall to $12,000

Mad Money host Jim Cramer predicts bitcoin prices will fall to $12,000. Nevertheless, he recommends Bitcoin and Ether for those who want to invest in crypto.

Jim Cramer’s Bitcoin price prediction

Mad Money host Jim Cramer discussed his future outlook for bitcoin on CNBC on Friday.

He also discussed the earthquake, the nuclear disaster,

and the nuclear crisis in the United States.

Sharing his Bitcoin price prediction, he replied.

I think it will be $12,000 before this whole mess starts.

“I think the ? I’m trying to get a good idea of what it’s going to cost. We need someone to say, “Look, this is the level.” That’s typical of what happens when you try to make a really big drop.” He emphasized, “They can’t let it go any lower.”

About Margin Calls and Microstrategies Cramer proceeded to talk about Microstrategies, a NASDAQ-listed software company that has accumulated a balance of 129,218 BTC on its balance sheet. Its CEO, Michael Saylor, is a bitcoin powerhouse. He recently told CNBC that bitcoin is the best investment for his company and that it is a good time to buy BTC at current levels.

MicroStrategy recently denied rumors that it was facing a margin call on its bitcoin-backed loans from Silvergate Bank and needed to liquidate some BTC. Saylor explained that the company has more bitcoin and other collateral to pledge for loans.

However, Cramer said that if the lender changed the crypto margin rate, Saylor “would be out in an instant.” He stated.

Bitcoin plunged early Saturday morning, falling below $20K for the first time since 2020. At the time of writing BTC was trading at $17,983, down 13% in the past 24 hours and nearly 40% in the past seven days.

The Mad Money host tweeted on Saturday.

A 10% drop in Bitcoin would trigger a nasty margin call over the weekend… Surprised there are no big institutions supporting this.

He added in a follow-up tweet.” I wonder what rabbit Michael Saylor can pull out of the hat with his Microstrategy game plan. I wonder if he had this in mind when he first raised the funds.”

Earlier this month, Kramer offered some advice on cryptocurrency investing. He admitted to owning Ethereum, adding, ” I would not discourage you from buying crypto.” However, he said, ” I suggest you do it with Ethereum or Bitcoin, where you have the biggest following.”

Last October, he said.” The whole investment case for crypto rests on the Greater Fool theory.” Microsoft co-founder Bill Gates made similar comments this week that crypto is 100% based on Greater Fool Theory, emphasizing that he is not involved in it.

Cramer is not the only one predicting a significant drop in Bitcoin’s price. Billionaire fund manager Jeff Gundlach said this week that he would not be at all surprised to see BTC fall to $10 BTC will fall to $10K, which would be a significant drop from its previous price of $20K. Robert Kiyosaki, author of Rich Dad, Poor Dad, noted that BTC could bottom out; BTCcould bottom out at $9K. Scott Minard, Guggenheim’s chief investment officer, said last month that BTC could fall to $8K.

Image credit: Shutterstock, Pixabay, Wiki Commons

Coins: Bitcoin
Ralph Smith

Cryptocurrency geek. Met with Bitcoin and altcoins back in 2011, when the price of BTC was about 10$. Writing articles since 2014 to these days.

You May Also Like
View Post
  • 1
  • 2 min

Report: Korean Central Bank to Gain Right to Probe Virtual Asset Entities After Financial Regulator Drops Opposition

View Post
  • 3
  • 2 min

Financial Analyst Charles Nenner Warns About the End of the US Dollar and Its Consequences

View Post
  • 2 min

Global Reserves Held in US Dollars Fell to Less Than 50% — Official States It Has Become a ‘Toxic’ Currency

View Post
  • 2 min

White House Economist Warns China Wants to Weaken US Dollar’s Reserve Currency Status — Senator Says Biggest Threat Comes From Within

View Post
  • 2 min

Putin and Saudi Crown Prince Discuss Potential BRICS-Saudi Arabia Collaboration

View Post
  • 2 min

Wallet Bot on Telegram Adds Bitcoin Support to Web Interface Following Tether Integration 

Recent Posts
  • Report: Korean Central Bank to Gain Right to Probe Virtual Asset Entities After Financial Regulator Drops Opposition

    View Post
  • Financial Analyst Charles Nenner Warns About the End of the US Dollar and Its Consequences

    View Post
  • Global Reserves Held in US Dollars Fell to Less Than 50% — Official States It Has Become a ‘Toxic’ Currency

    View Post
  • White House Economist Warns China Wants to Weaken US Dollar’s Reserve Currency Status — Senator Says Biggest Threat Comes From Within

    View Post
Coin Prologue Coin Prologue
Made with ❤️Love in 🇺🇦Ukraine ©2021 — 2022

Input your search keywords and press Enter.