CNBC host and co-founder of theSteet.com Jim Cramer said when Bitcoin (BTC) is less than $ 20,000, he is a ‘buyer’.
What happened: Cramer said he would buy bitcoin again if it was less than $ 20,000. He said he tried to trade over the weekend and said it was ‘very difficult to do’, despite ‘a lot of resources on this’, in an interview today.
‘People need to realize that this is a market, not like any other market you’ve ever seen. We do not know who is buying, we do not know who is selling, we do not know what is going on. ”
Cramer calls the crypto market “nothing more than a completely volatile stock, except that it trades 24/7.”
CNBC’s host also mentioned that he was about to speak to Jeffrey Sprecher, CEO of Intercontinental Exchange Inc (NYSE: ICE), whose company’s downloading a large portion of their crypto business and basically a Coinbase creates for points in crypto. ‘ He expressed his hope that this move would bring liquidity to the market because ‘we do not have it’.
Why it matters: The crypto market has wiped out $ 200 billion in the past 24 hours after hitting $ 1 billion on January 6th. It has since regained some positions and currently stands at $ 956.6 billion.
Bitcoin, which hit a record $ 41,000 three days ago, fell to $ 30,450 today and was trading at $ 35,104.83 at the time of going to press.
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