Jim Cramer It reportedly told investors on Monday it still had time to pull out. their cryptocurrency holdings.
What happened: “Don’t beat yourself up and say, ‘It’s too late to sell. If so, that’s what you have. according to to a CNBC report.
Investors should not be fooled by the bulging market cap of some coins, Cramer said. ripple XRP/USD, dogecoin Doge/US Dollar, Cardano ADA/USD When polygon Matic/USD is expected to fall further, possibly to zero.
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“Tether, the so-called stablecoin, should be pegged to the dollar, but it still has a market cap of $65 billion,” Cramer said. “The entire crypto booster industry is trying desperately to keep all this up in the air. Not much different than what happened with bad stocks during the dot-com crash,” he added.
Price action: major cryptocurrencies such as Bitcoin Bitcoin/USD When ethereum Ethereum/USD Trading was marginally higher on Tuesday on concerns about the US Federal Reserve’s (Fed) rate hike path. PMI data.
Last week, Cramer referred to the Federal Reserve Chair Jerome Powell The inflation remarks confirmed that investors should not retreat from the market because of recession fears. “Unless the ultra-hawkish Fed minds who want to raise short-term rates from 5% to 7% are silenced, we must be prepared. a quarter foot from the door” he said.