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Jim Cramer Says “Buy Fear, Not Sell It,” Crypto Community Reacts
Well-known investor and TV personality Jim Cramer recently tweeted about his take on the recent market downturn. He emphasized that instead of panicking and selling your assets, one should “buy fear, not sell it.” The crypto community has been reacting to his statement, with some agreeing with him while others are skeptical.
Cramer’s suggestion comes as Bitcoin (BTC) experienced a significant decline over the past 24 hours. Fans began tweeting that it is definitely worth selling, not buying. Over the last month, the world’s largest cryptocurrency, Bitcoin, had added substantial gains. However, the recent statement by Federal Reserve boss Jerome Powell about the Fed planning to reduce the high pace of interest rate cutting next year led to a rapid and deep decline in the value of the digital asset.
Bitcoin dropped almost 10%, falling from the $102,450 zone to $92,951. Although it has since rebounded slightly and is now changing hands at $95,200, many investors are left wondering what this means for the overall crypto market.
Cramer’s advice to “buy fear” resonated with some members of the community who believe that such a move would be counter-intuitive, especially considering the current market volatility. Many argue that his suggestion is not necessarily applicable to the highly speculative and volatile world of cryptocurrencies like Bitcoin.
On the other hand, some investors are taking Cramer’s advice seriously and are exploring opportunities in the crypto space.
Source: u.today
