If you like Bitcoin, buy Bitcoin: Jim Cramer admits to making profits from Bitcoin investments
- Jim Cramer said in his CNBC show that investors should increase their exposure to Bitcoin if they like BTC.
- Cramer previously urged viewers to sell their crypto investments, and admits to making incorrect calls on Bitcoin.
- The American TV personality admitted that he has made profits from his Bitcoin investments.
Jim Cramer, an American TV personality and host of CNBC show “Mad Money,” admitted to his “not perfect” Bitcoin calls. Cramer is popular in the crypto community for his love-hate relationship with cryptocurrencies.
Cramer admits to making profits on his Bitcoin investments
On his CNBC show, host Jim Cramer has urged viewers to sell their crypto holdings, irrespective of the cost and made incorrect calls on Bitcoin price, on several occasions. The markets commentator admitted that he was wrong about Bitcoin and said that he prematurely called investors to sell their crypto.
In the November 22 segment of the show, while addressing a caller’s question, Cramer said that anyone who likes Bitcoin should increase their exposure to BTC. Cramer was quoted as saying:
"Look, if you like Bitcoin, buy Bitcoin. That has always been my view. And for a while, I liked it, and I decided that money had been made, but I was premature."
The host admitted that despite his incorrect Bitcoin calls, he still made profits on his BTC investments.
Bitcoin price eyes bullish target
Bitcoin price is in an uptrend that started in November 2022. The asset climbed from $15,700 to a local top of $37,991, on November 15, 2023. BTC price is likely to face resistance at the psychological level of $40,000, in its uptrend.
The 10, 50 and 200-day Exponential Moving Averages (EMA) at $36,918, $33,848 and $29,590, respectively, are likely to act as support for the asset in its decline.
In the event of a decline, Bitcoin price could drop to the 38.2% retracement ($35,861) of Bitcoin’s decline from $69,121 in November 2021 to the local bottom at $15,396 in November 2022.