Jim Cramer: "Bitcoin may rise in the coming months, but is unlikely to reach new records"

Article Reading Time:
1 min.

CNBC host Jim Cramer believes that in the coming months, bitcoin mayrecover most of the losses, but do not expect new price records.

Jim Cramer bases his opinion on the basis of Tom DeMark's analytics.He analyzed the charts of the first cryptocurrency and announced a possible recovery in the price of BTC.

"The charts, as interpreted by Tom DeMark, suggest that bitcoin canHowever, the analyst does not see that the BTC rate canI can't advise you to buy bitcoins at the current levels, but if you have coins and you want to sell them, then before the next fall, I bet you can get a better price to exit the position," the host of the Mad Money program emphasized.

Kramer noted that bitcoin has not fallen by more than 50% since 2020.And, quite possibly, it will take years or even decades for the first cryptocurrency to reach new records.And it is possible that we will never see new peaks, but this, the presenter emphasized, does not mean that bitcoin cannotto win back a significant part of the fall.

At the beginning of the month, Jim Cramer said that BTC and ETH canbe the best investment in the long term, but they are worth itallocate no more than 5% of the portfolio.