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You have crypto, you better watch out and sit down, because Jim Kramer has spoken out about Bitcoin again, writing, "Buy crypto" and pointing out that the United States debt is rising. And there would be nothing terrible about it, if it were not for the fact that in the past he has spoken many times about Bitcoin, about its potential purchases and sales.
And most of the time it didn't look good. You know, if I were hosting a reality comedy show, I would now say that Jim Kramer is a guru for the cryptocurrency community, that every post of his is treated with reverence and attention. Well, unfortunately I don't run a satirical show, the Julian Krypto channel, where I show you hard data.
And on this channel I will show you historical entries by Jim Gramer, the presenter of CNBC, one of the world's largest television stations. He has hosted the Mad Money program on CNBC since 2005. Previously, he was a hedge fund manager and worked at Goldman Zax. He is a Harvard graduate, author of books on investing, and founder of the CNBC Investing Club community.
is known for his expressive style, outspoken opinions, and short-term market colas, which earned him both popularity and a meme. Inverse crammer. In other words, a large portion of the community simply thinks it's a good idea to bet against his suggestions. Why? Take a look. November 24, 2020 Kramer posts on his Twitter that it 's not too late for Bitcoin.
a great alternative to gold, which I always believed in. And from a historical perspective, the entry wasn't the worst at all. Just before Bitcoin surged over 200% in 111 days. However, it is important to note that this entry also occurred just before a correction of around 16%, and was added at the very end of an upward rally where Bitcoin had been rising for over 50 days without any major corrections.
It was only then that Jim Crammer woke up suggesting that this was a good time to buy Bitcoin. Well, Bitcoin grew, gained, gained throughout the end of 2020 and the beginning of 21 until mid-April 2021. Then, at a price level of around $60,000, Kramer wrote: "Pay me in Bitcoin." Yeah, yeah, pay me in bitcoin.
One Twitter user then wrote: "Oh my god, please don't let this be a peak, I'm all long legs." Strangely enough , it turned out to be the summit, and Kramer had marked it perfectly, unfortunately giving the opposite signal. Then Bitcoin drops from 60 to around 30,000 dollars. And as Bitcoin was falling, falling, falling, Jim Kramer woke up around 31,000 and wrote, "I sold all my bitcoins to buy a farm." he wrote it exactly at the point you see on the screen.
I sold all my bitcoins. Was this a good time to sell or rather buy? Well, judge for yourselves, because since his post, Bitcoin fell about 8% in 7 days, but then started gaining 50, 60, and even 100% over the next 4 months. The next entry was on June 14, 2022 and read: "Bitcoin enthusiasts will attack today and call it the best buying opportunity in history.
Meanwhile, I hope I can get my money back from where I sold my Etherium. As you can see, this is a typically negative entry saying that Bitcoin enthusiasts will attack Kramer because this point is visible on the chart, i.e. the level of around $20,000 on Bitcoin, Bitcoin enthusiasts will say that this was the best time to buy Bitcoin, in fact, that was it, again, pay attention, Kramer wrote this right after huge drops, in other words, right after one of the biggest crypto sell-offs in 2022.
Okay, but it must be admitted that one of these entries, at least so far, Kramer managed to get it right by writing: "Time for crypto". He wrote this on July 6, 2022, after which the price of BTC immediately started to appreciate around 17% in 4 days. Bravo, Kramer. However, this glory couldn't last long, as, on a wave of emotion, Kramer began adding further posts suggesting declines, one after another.
First, on October 7th, at around $17,000, he reminded everyone that he had sold all his cryptocurrencies and bought a boat with them, adding that he wanted people to bet against him. And of all these suggestions, this one probably turned out to be one of the most accurate, because by betting against Kramer from $19,000 back then, one could have gained about six times on Bitcoin, meaning 600% in 2.5 years.
But this wasn't the last such post at Bitcoin's low levels , because right after the FTX exchange crashed at around $17,000, Kramer added: "Cryptocurrency enthusiasts feel the storm is over, but that's not how it works. This isn't some important level." In other words, he suggested that the declines could continue, and his subsequent posts only confirmed this.
At the beginning of 2023, just before the huge increases, Kramer wrote: "I predict another weak year for cryptocurrencies. I wonder how many people are still involved in this . Currently, this number is many millions of people. Let's recall that gram wrote this when Bitcoin cost $16,000. How can you even write something like this one day after Joe Biden signed a law authorizing the printing of 1.7 trillion US dollars?
It was exactly one day after this bill. And a few days later on January 9, during a slight increase, when Bitcoin was around $17,000, he added: "Good chance to get out of cryptocurrencies and get out of Chinese stocks because you can't trust any of them." And just to be clear, on January 1st I was talking about this bill in detail.
analyzing its potential impact on the price of Bitcoin, suggesting that the price of Bitcoin from that level of $16,000 is likely to start a massive increase. And now we all know that Kramer's predictions could have been shoved up his sleeve, well, we won't say specifically where they could have been shoved, but Bitcoin grew, grew, and grew until the decisions regarding ETFU in the US.
And ETFs in the US have set another peak, one could say the so-called selven, which I have also talked about many times . The problem, however, is that when Bitcoin's price broke out to these all-time highs, Kramer wrote: "Normally, one would expect Bitcoin to top on the news, i.e., Selven News, but I'm not sure that will happen." he wrote this suggesting increases.
Well, that's what it looked like. And literally one day later, when the price of Bitcoin started to fall, he changed his mind, writing that a big top in Bitcoin, a big one, in other words, big drops are ahead. You could say it worked. There have been declines. The question is what Kramer meant . 15% drops.
It was indeed the peak. As Bitcoin fell and fell, Kramer first wrote that Bitcoin was hard to hold. He then added that Bitcoin's value has now fallen about 20% from its peak. I expect a strong defense, but it won't be maintained because not enough money is coming in. He wrote this at the perfect low of around 40,000 dollars.
Then he added another entry, another day, another chance to withdraw Bitcoin. While the Number GoP club, i.e. the bullish club, is trying to keep it at 40,000. So what? From 40,000 we immediately shot up to 50,000, then to 60,000 and then to 70,000 dollars. And interestingly, it was then, at the level of 69,000 dollars, that Kramer decided to change his mind, change the narrative to bullish, writing: "Hi, my name is PIP, his dog, and today I bought bitcoins for 69,000 and I'm counting on Michael Sailor to stop me." And everything would be fine.
We would be happy to receive information that Kramer bought bitcoins in this long bearish narrative. The only problem is that when he bought these bitcoins, for a long, long time this Bitcoin did not break through the levels of $69,000. In fact, it moved sideways like this , falling by as much as 20-30% in gusts.
And as the months passed, about half a year, Kramer's next post read: buyers are just walking away at this point at 58,000. Then, when Bitcoin surged to 64,000 dollars, Kramer, clearly bored with the surge, added: "I'd like to see a break in the endless speculative rally on gold, cryptocurrencies, and unprofitable companies.
So what? A break in the endless speculative rally." And the rally has n't actually ended, as the BTC price has fallen around 8% since then. In 17 days, but actually after 90 days it was already about 70% higher. As you can see, many commenters were already thanking Kramer for confirming that the growth was starting.
So Bitcoin broke through 100,000 dollars, then lost to 70,000 dollars and started rising at some point. So while Bitcoin was rising, Kramer posted a post thanking GameStop for implementing his Bitcoin plan. But the problem is that this entry, one could say at a perfect local peak just before the market collapsed by 15% in 16 days.
And yes, Bitcoin has continued to gain, having gained 60% since then . But the funny, funny correlation is that these types of entries usually appear in Kramer's at local peaks or local troughs. Except that it's the opposite of what he would like. And now we come to the essence of this recording, namely the latest entry titled Byy Crypto, which is short, specific and to the point kupto with an added photo of the United States debt , which is growing, growing, and growing.
Absolutely. Buy crypto, buy Bitcoin, adds Michael Sailor. But the question is always about the interval, the time frame in which we trade a given asset, because of course, most likely in three or four years the decision made today to buy Bitcoin may turn out to be a very, very good one. But in the context of the coming months or weeks, the question is how this might affect those who take this post literally and buy crypto now, hoping for profits in the coming months.
Of course, we will find out about this in a few months, in a few years. We will see what the timing was for this entry as well. But looking back at all of Kramer's posts from recent years, do you think it was good to listen to them, or maybe play against them? For me personally, it is clearly visible here that Kramer reacts very strongly to declines or even to increases.
He gets emotional just like everyone else and translates those emotions into his investment suggestions. To put it simply , when something falls, when emotions are negative, Kramer's emotions are also negative. is betting on declines like most of the market. When there are declines, they bet on declines, and when there are long-term increases, the markets only then bet on increases.
And Kamer does not differ significantly from the majority of the market in this respect, and we can determine this based on simple metrics, for example funding rates, which clearly indicate whether the markets are in so-called FOMO at a given moment . In other words, everyone is betting on growth, or at a given moment the markets are in fear, in the so-called food zone, and are betting on declines.
As you can see, markets are usually wrong. Traders who bet on leverage are usually wrong, and interestingly, you can set notifications and alerts for such anomalies , which can inform us about the emotions of people in the market. In other words, whether it is worth giving in to FOMO or Food. And how to use it in practice?
Enter Max Data Up. On the right side, open the menu, click on the public alerts section and start filtering different alerts. Alerts on maxdata are created by different users. Anyone can create them, but the most important thing is that by hovering over each alert, we can see their historical triggers.
Such as, for example, the one that was called the possible beginning of the end of the bull market, and its calls so far have actually been at local peaks. But that's not for me to judge. Decide for yourself which of these alerts is interesting enough to be worth subscribing to. Subscription is free.
You can receive notifications by phone, telegram and email. And if you want to receive Gim Cramer's posts, but only those related to cryptocurrencies, because he adds a lot of posts, then from today on Max Data Up in the news section you will start to see GM Crammer's posts, but only those related to Bitcoin or the crypto market.
And thank you for your comments under the last material. Esamak wrote: "Julian, thanks for the analysis and for the max. These alerts are worth gold. Have a nice day and may the bull market be with us." Hi.
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