Benzinga - Jim Cramer, the popular host of CNBC's Mad Money, has been a vocal critic of cryptocurrencies, but his predictions about Bitcoin (CRYPTO: BTC) have been repeatedly off the mark.
What Happened: When Bitcoin broke the $17,000 price in January, Cramer said it was an excellent opportunity to exit the market.
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In his words: “[It is a] good chance again to get out of crypto and scale out of Chinese stocks as neither can be trusted.”
Good chance AGAIN to get out of crypto and scale out of Chinese stocks as neither can be trustedThe apex crypto, on Tuesday, reached a nine-month high of $28,500 as investors eagerly awaited the Federal Reserve’s interest rate decision on Wednesday. The Fed will decide whether — and by how much — to increase its baseline interest rate, which could have a major impact on crypto prices.— Jim Cramer (@jimcramer) January 9, 2023
If you had invested $100 when Cramer asked to get out of crypto on Jan. 8, when BTC was trading at $17,091, you could have seen a 65% increase in your investment.
Today, with BTC trading at $28,091, a $100 investment would have become $165.
Read More: Bitcoin Holds $28K Fort, Ethereum, Dogecoin Rise: Analyst Sees 'Beautiful' Setup For Apex Crypto As Focus Turns To Fed
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