The Encryption Fear Index Approaching “Extreme Greed”: Jim Cramer, the Prominent Figure in US Stocks, Claims Bitcoin Has Reached Its Peak
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Bitcoin surged to $47,000, Jim Cramer: It has peaked
Cryptocurrency Greed Index skyrocketed
Bitcoin surged to $47,000, Jim Cramer: It has peaked
Bitcoin reached a high of $47,248 this morning, with a 7% increase in the past 24 hours. It is the only cryptocurrency among the top ten by market value that has shown a rising trend in the past seven days, reaching a new high since April last year.
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Bitcoin briefly reached $47K, Grayscale GBTC trading volume nearly $500 million
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About a week ago, CNBC host Jim Cramer highly praised Bitcoin as a “technological miracle” and “difficult to kill.”
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This is widely seen by the community as being bullish on Bitcoin.
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Jim Cramer calls for Bitcoin again, will the Bitcoin spot ETF benefit from it?
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However, on January 8th, Jim Cramer revealed on the show that he believed the price of Bitcoin has reached its peak. He said:
Let’s stop the nonsense. If you want Bitcoin, buy Bitcoin. (But) I think Bitcoin is peaking.
Cryptocurrency Greed Index skyrocketed
Meanwhile, cryptocurrency data platform CoinGecko tweeted that the cryptocurrency fear and greed index has risen from “greed” to “extreme greed.”
However, data from another platform, CoinMarketCap, shows that the market is still in the greed level. It reached extreme greed from December 6th to December 10th last year when BTC surpassed $40,000 for the first time and reached $45K. After experiencing the extreme greed phase, it retraced to $40,150.
In fact, Jim Cramer had already called for buying BTC as early as November last year:
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Contrary indicator Jim Cramer bullish on Bitcoin! Where is the resistance above BTC?
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Jim Cramer
Contrary indicator
Fear and Greed Index
Bitcoin
Further reading
Jim Cramer calls for Bitcoin again, will the Bitcoin spot ETF benefit from it?
Contrary indicator Jim Cramer bullish on Bitcoin! Where is the resistance above BTC?