Former hedge fund manager and host of CNBC’s “Mad Money,” Jim Cramer, stated on Monday that Bitcoin is reaching its peak. He mentioned that Bitcoin rose by approximately 8% on Monday, but then retraced some of its gains, reaching a high of $47,100, the first time since April 2022. At the time of writing, BTC’s trading price stood at $46,825.
Cramer has a history of making predictions that go against the trend of asset prices, making him known as a famous contrarian indicator on Wall Street. Last Tuesday, when Bitcoin was valued at $45,000, Cramer stated in an interview on his show that Bitcoin is a technological miracle and that “you can’t kill it.” The next day, Bitcoin experienced a decline, dropping to around $40,400.
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