- Jim Cramer has told investors that it’s never too late to liquidate.
- He warns against remaining in speculative assets as the Fed tightens the economy.
- FTX has brought the crypto sector under great scrutiny and caused market losses to escalate.
Jim Cramer, the host of CNBC and Mad Money, told investors that they still have time to liquidate their crypto holdings. Cramer warned investors to sell their cryptos before it’s too late, predicting a market crash in 2023. He went on to say that it’s never too late to sell cryptocurrency and hop ship while prices are still regarded as high.
You can’t just beat yourself up and say, ‘hey, it’s too late to sell.’ The truth is, it’s never too late to sell an awful position, and that’s what you have if you own these so-called digital assets.
Jim Cramer.
Cramer has advised against remaining in speculative assets as the Fed tightens the economy. He reiterates his point, saying that investors should not be misled by the increased market capitalization of some currencies.
He also predicted that other marginal coins, including XRP, Dogecoin, Cardano, and Polygon, will fall considerably and go deeper, potentially to zero.
“Tether, a so-called stablecoin is supposed to be kinda-sorta pegged to the dollar. However, it still has a $65 billion market cap.” He said, adding, “There’s still a whole industry of crypto boosters trying desperately to keep all of these things up in the air. Not too different from what happened with bad stocks during the dot-com collapse.”
It`s worth noting that the collapse of FTX has brought the crypto sector under great scrutiny and caused market losses to escalate. At its peak, the defunct cryptocurrency exchange was valued $32 billion. The Federal Reserve’s interest rate rises have hence taken a toll on digital assets.
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Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.
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