- Jim Cramer Wrong About Bitcoin: Why Investing in the Cryptocurrency is a Wise Bet During Uncertain Economic Times
- Digital Currency Revolution: Why Bitcoin is Safer and More Profitable Than Traditional Investments
- Why You Should Be Rejoicing if You’ve Invested in Bitcoin Despite Current Economic Climate
Twelve days ago, famed investor and TV personality Jim Cramer said on his show Mad Money that Bitcoin was a good time to get out. Since then, BTC has surged over 35%. For those who held or bought during that dip, congrats- you are up! Now may be a good time for everyone else to enter the market again. Past performance is not indicative of future success, but it is worth paying attention to.
Jim Cramer’s comments on Bitcoin sparked debate among investors, market analysts, and others. In his segment on CNBC’s Mad Money, Cramer expressed his opinion that “Bitcoin was a good chance to get out.” While some agreed with him due to the ongoing uncertainty in the markets, others disagreed and pointed to Bitcoin being one of the better performers this year compared to other assets. Despite differing opinions, it is ultimately up to each investor to decide whether or not they will take the risk associated with investing in cryptocurrency such as Bitcoin.
Since it was low in December 2018, Bitcoin has seen a remarkable increase of 35%. This significant recovery is a testament to the strong market support for this cryptocurrency, as it continues to increase in popularity despite the short-term fluctuations in price. As its value rises, so too does speculation over when the next dip will occur, with many predicting that it could well break records and soar past $20k. With other exchanges like Ethereum and Litecoin also increasing expectations on the market, investors should keep an eye out as they monitor their portfolios.
Here’s why Jim Cramer was wrong about Bitcoin
As an investor, Jim Cramer has the right to express his opinion on any asset, but he was way off base in this case. Bitcoin is a decentralized currency that functions outside governing financial institutions, offering users secure and anonymous transactions with practically no fees. This makes it a popular choice for those who want faster international payments or greater personal discretion with their assets. Since its inception, Bitcoin has proven to be a viable digital currency with volatility comparable to other widely traded assets like gold. Cramer’s critique misunderstood the more comprehensive benefits digital currencies offer, which could allow them to become significant commodities in global financial markets.
Despite worldwide economic concerns, now is the perfect time to invest in Bitcoin. Cryptocurrency has seen massive growth since its inception, and experts predict that the asset will continue to be a viable option. Bitcoin offers more potential for economic diversity and development than ever before. Its secure and reliable digital ledger system enables us to transfer money between parties without needing any middleman or allowing anyone to access our identities or funds. Additionally, its decentralized nature allows it to remain immune from geopolitical risk or governmental regulations, which are factors that could otherwise have disastrous effects on stocks—as such, investing in Bitcoin is an excellent option for those trying to weather uncertain times.
With Bitcoin’s growing market capitalization, there has been increasing curiosity and analysis surrounding digital assets. Although its use is still a fraction of that of fiat currencies, its share has been rising steadily since its launch in 2009. Besides being the world’s first entirely virtual currency, Bitcoin transactions have several advantages over traditional transactions. It is faster, easier to use, not controlled by a central bank or government regulatory body, and highly secure due to its underlying cryptography technology. As an investor interested in gaining exposure to crypto-assets, Bitcoin remains one of the safest options as it is the longest-standing and well-known cryptocurrency available today. With multiples of return opportunities displayed now and then by other cryptocurrencies, Bitcoin remains a wise bet for newer investors looking for initiation into the space of crypto investing.
Long-term investors in Bitcoin should be rejoicing right now. They’ve made a 35% return on their investment since Jim Cramer recommended selling it on Mad Money just over a month ago. Although the current economic climate is uncertain, bitcoin has shown to be a good investment. If you’re thinking about investing in Bitcoin, doing your research and taking a long-term approach is critical to success.