A cryptocurrency blogger who is passionate about the digital currency world recently announced that there has been a significant increase in the value of the first currency, Bitcoin, since the host of CNBC’s MadMoney program advised people to sell their Bitcoins a few days ago.
Despite Jim Cramer’s skepticism about BTH, Neil Jacobs urged people not to listen to the TV star and explained that Bitcoin had actually increased in price by 9% since Cramer’s negative remarks.
According to Jacobs, people should not be swayed by Kramer’s opinions as they are based on outdated information from four days ago.
Cramer, on the other hand, was quick to acknowledge that the price of Bitcoin had indeed risen but warned people to be cautious as he believed that the former CEO of the bankrupt exchange FTX, Sam Bankman-Fried, was still manipulating the market.
According to the TV star, Bitcoin’s price is not solely determined by market forces, and people should not be misled into thinking that it is.
While he was once a proponent of BTC, Cramer’s position has since changed, and he openly stated that he believed Bitcoin was a “strange animal” and being manipulated. He even suggested that he would sell his Bitcoins in the middle of this rally.
Interestingly, cryptocurrency rates have been on the rise during the week, with some attributing this to the collapse of American banks.
Despite Cramer’s warning, it seems that Bitcoin’s value has continued to increase, and many in the cryptocurrency community remain optimistic about its future prospects.