Bitcoin (BTC) has kicked off 2024 with a remarkable climb, reaching its peak since April 2022. Despite CNBC’s Jim Cramer’s doubtful remarks, the cryptocurrency’s value soared to $45,879, showcasing a robust 3% increase just two days into the new year.
Jim Cramer voiced his firm belief in Bitcoin’s staying power on CNBC. He described the cryptocurrency as a “technological marvel,” highlighting its resilience in continuous challenges.
He emphasizes Bitcoin’s impressive comeback, especially under the watchful eye of the SEC and its chair, Gary Gensler. “This thing, you can’t kill it,” Cramer remarked, acknowledging the digital asset’s unexpected recovery.
Historically, Cramer’s bearish stance on cryptocurrencies has often led investors to adopt a contrarian approach. This phenomenon, known as the “Inverse Cramer Effect,” notably prompted TUTTLE’s creation of an Inverse Cramer ETF in October 2022.
Consequently, Bitcoin’s market cap has skyrocketed to a staggering $892.65 billion, up 277% from the previous year.
Moreover, this surge transcends mere numbers, challenging the long-held skepticism of critics. Investors and enthusiasts alike are keenly observing whether Bitcoin will maintain its upward trajectory throughout 2024, potentially defying the doubts of one of its most vocal skeptics.
Also Read: Cramer’s Bitcoin Flip-Flop Sparks Memes Amidst Price Surge
