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Bitcoin (BTC) Price Shines Green, But Here Comes Jim Cramer

Wed, 07/26/2023 - 16:25
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Gamza Khanzadaev
Tension peaks as Bitcoin price surges, but Jim Cramer joins bullish bandwagon
Bitcoin (BTC) Price Shines Green, But Here Comes Jim Cramer
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In a seemingly promising trading session on the crypto market, Bitcoin (BTC) showcased predominantly positive dynamics, illuminating the cryptocurrency quotes in vibrant shades of green. The day saw BTC trading in a slight surplus, with gains reaching 0.5% and, at one point, even touching 1%.

BlackRock Names Optimal Bitcoin Share in Investor's Risk Portfolio – You'll Be Surprised

However, this jubilant atmosphere may be short-lived as financial expert and popular presenter Jim Cramer has stepped into the picture with a rather bullish attitude.

Cramer is no stranger to making statements that often defy prevailing trends and shatter expectations. His influence has grown so much that it birthed the "Inverse Cramer" phenomenon, where investors do the opposite of his advice. As often, he took to Twitter to share his thoughts.

While his remarks were not directly related to the crypto market or Bitcoin, the mere indication of his upward bias was enough to create a ripple effect. Just 12 minutes after Cramer's tweets, Bitcoin's price reached a peak, only to swiftly collapse back to its opening price, erasing 0.5% of the day's gains.

Source: TradingView

The significance of such signals might be debated within the community, but random phenomena like the Inverse Cramer cannot be dismissed entirely. Even though his statements were not explicit bullish calls for BTC, they were enough to sway market sentiment for some.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.