Elon Musk Reacts to Jim Cramer ‘Causing’ Bitcoin (BTC) Price Reversal

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As an analyst with over two decades of experience in the financial industry, I’ve seen my fair share of market phenomena and trends that defy logic. The recent Bitcoin rally, followed by Jim Cramer’s bullish stance, is one such occurrence that I find fascinating.

On major U.S. exchange Coinbase, the price of Bitcoin (BTC) surged dramatically to reach $99,860, but the excitement could be fleeting since well-known financial expert and TV personality Jim Cramer has displayed a notably optimistic stance.

Cramer is known for expressing opinions that go against the usual norm and surprise many. His impact has expanded so significantly that it has resulted in what’s now called the “Anti-Cramer” trend, where investors typically act contrary to his advice. Frequently, he voices his ideas during live TV broadcasts while serving as the host of CNBC’s Mad Money.

Therefore, it’s alleged that Cramer stated that Bitcoin is currently thriving, advising ownership of the digital currency. Consequently, the value of BTC reversed direction, reaching a temporary low of $97,215.

“Too powerful”

As a researcher, I found it intriguing to observe the far-reaching impact of Cramer’s recent comments on Bitcoin. This ripple effect even managed to grab the notice of Elon Musk, a renowned entrepreneur, billionaire, and the head of SpaceX, X, and Tesla. Musk, too, seems to appreciate the significant influence that Cramer’s endorsements can carry.

😂💯

— Elon Musk (@elonmusk) November 23, 2024

Responding playfully and humorously, Elon Musk expressed his amusement through a series of laughing emojis when asked about the recent instance of Jim Cramer’s supposed curse.

Currently, it’s unclear where Bitcoin will head next, but this event underscores the impact that external opinions and market sentiment can have on the direction of the cryptocurrency’s value.

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2024-11-24 15:13