Bitcoin is currently trading just below $40,000, having recovered from an earlier drop during the day. As of writing, Bitcoin’s value has increased by 0.18% in the last 24 hours, reaching a price level of $49,700.
@freefaller16 Investors expect two major events in 2024 to push Bitcoin prices to new heights: the Bitcoin Halving and the possibility of a Bitcoin ETF being approved in the US.
Given Cramer’s known skepticism towards Bitcoin, his call for investors to liquidate their portfolios following the price drop should not be seen as surprising. He believes that even if Bitcoin recovers, it may not sustain the revival due to a lack of fresh investment.
Cramer, a prominent television personality, is known for closely following Bitcoin’s progress. He had previously indicated a strong starting level for the coin during the week’s initial rally, which began around a support level of $40,100.