Here are the top four news stories over the past day presented to you by U.Today.
Jim Cramer makes another market prediction
Jim Cramer, a renowned financial analyst and CNBC's Mad Money host, has taken to Twitter to share his opinion on how the market can be expected to behave in the near future. According to Cramer, it will not be long before the market turns negative, and the reason is that it has already re-digested the news from last Friday and decided that the Fed will tighten and create a recession. Such an assumption demonstrates Cramer’s bearish view on the market and its future prospects. However, despite his long career in the financial sector, most predictions made by Cramer have not come true, which even led to the creation of a Twitter account called "Inverse Jim Cramer" that takes the position opposite of the analyst's.
Bitcoin (BTC) just printed its first golden cross in months, what's next?
As tweeted by @venturefounder, a Twitter user that provides cryptocurrency analysis on Cryptoquant, Bitcoin printed its first golden cross since September 2021 on Monday. The analyst believes that in a bearish scenario, this potential correction might see BTC retest $20K, while in a bullish case, the king crypto might test $25K. If the $25K level is turned into support, "it's the nail in the coffin for the bears," the tweet reads. The history of Bitcoin numbers a total of eight golden crosses, three of which, in February 2012, October 2015 and May 2020, predicted price increases of between 100% and 350%. Three other crosses, however, in July 2014, July 2015 and February 2020, led to Bitcoin's drop.
Shiba Inu (SHIB) may show 10% price movement, but there's a catch: analyst
According to a recent prediction by crypto analyst and trader Ali Martinez, Shiba Inu meme crypto could be bound for a 10% price move. He shared a 1000SHIB/TetherUS Perpetual Futures chart, suggesting to watch the point on the chart from where the SHIB price could either keep rising or begin a downward trend. At the same time, Martinez warned his followers that they need to wait for confirmation, in particular whether a 30-minute candle will close above the $0.0146 level or under $0.0142. Either will show in which direction the SHIB price will start moving from there. SHIB is currently trading at $0.00001414, per CoinMarketCap.
Gone boy: search for crypto fugitive Do Kwon heats up in Serbia
As reported by Bloomberg, last week, South Korean officials visited Serbia to seek help from local authorities in catching Do Kwon, the crypto entrepreneur who is facing charges of causing the collapse of TerraUSD stablecoin and LUNA token. Kwon's presence in the Balkan country became known to the Seoul Southern District Prosecutors' Office in November, and it has been trying to arrest and extradite the fugitive ever since. Notably, Serbia has no extradition treaty with South Korea. As reported by U.Today, after recently entering Serbia, Kwon reportedly cashed out roughly $120,000 from the Luna Foundation Guard (LFG).