CNBC host and co-founder of theSteet.com Jim Cramer (Jim Cramer) stated that when Bitcoin (BTC) fell below $20,000, he was a “buyer” again.
what happened: Kramer said that when the price of Bitcoin drops below $20,000, he will buy Bitcoin again. He mentioned that he was trying to trade on the weekend and said that despite “a lot of resources”, it was “really difficult” in an interview today.
People must realize that this is a different market from the ones you have seen. We don’t know who is buying, we don’t know who is selling, we don’t know what happened. “
Kramer said that the cryptocurrency market “is no different from a completely unstable stock, except that the trading frequency is 24/7.”
The CNBC host also mentioned that he will have a conversation with Jeffrey Sprecher, CEO of Intercontinental Exchange Limited (NYSE: ICE), and his company “is uninstalling most of their encryption The business is basically creating a Coinbase for encryption points.” He expressed the hope that this move will bring liquidity to the market because “we have no cash.”
Why it matters: After reaching $1 trillion on January 6, the cryptocurrency market lost $200 billion in the past 24 hours. Since then, it has regained some positions, currently at $956.6 billion.
Bitcoin reached a record high of $41,000 three days ago, and today fell to a low of $30,450, trading at $35,104.83 as of press time.
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