- Jim Cramer advised investors to sell Bitcoin in December 2022 when it was trading below $18,000, but it has nearly doubled in value since then to over $34,000
- Cramer has a history of inaccurate cryptocurrency price predictions, including calling the end of the crypto downtrend in early 2022 before prices kept falling
- His advice on both crypto and stocks seems unreliable, as shown by Bitcoin’s surge after his “sell” call and his poor call on Silicon Valley Bank before its collapse
Jim Cramer has made yet another inaccurate Bitcoin price prediction. The host of CNBC’s Mad Money advised investors to sell their “awful” crypto holdings in December 2022, arguing “it’s never too late to exit” the ecosystem.
Bitcoin’s Price Explosion Since Cramer’s Warning
At the time of Cramer’s warning in December 2022, Bitcoin‘s valuation stood at less than $18,000. However, as of now, it is well above the $34K level – representing an approximate 100% increase since Cramer told investors to sell.
Cramer’s Track Record of Bad Crypto Predictions
Unfortunately, this is not Cramer’s first bad cryptocurrency forecast. At the beginning of 2022, he assumed the crypto market correction was over and advised people to increase their exposure to Bitcoin, Ether, and other cryptocurrencies. Of course, the downtrend continued in the second half of 2022.
In February 2023, Cramer also said Silicon Valley Bank shares were still cheap. The bank collapsed a month later.
The Bottom Line
Cramer has repeatedly made inaccurate predictions about both cryptocurrency prices and the wider financial markets. While he is an entertaining TV personality, his advice does not appear to be very reliable. The recent 100% Bitcoin surge since his “sell” call is just the latest example of Cramer getting it wrong.