Crypto Market Rebounds, But Jim Cramer Doubts The Move
Jim Cramer questions crypto market recovery
Claims FTX investors trusted SBF blindly
As the crypto world entered the year 2023, the Crypto winter began to fade. Even during the last month of 2022, the crypto market was still facing the heat of a bear market. However, the year 2023 seems to turn the table around as the market has entered the recovery phase.
This began with Bitcoin leading the recovery cycle where the King currency even bagged its much awaited $21,000 area. Nevertheless, just recently, Bitcoin lost $21K and slided towards $20K level.
At the time of writing, Bitcoin is changing hands at $20,897 after a drop of 2.54% over the last 24hrs.
Jim Cramer Questions Crypto Market Recovery
Meanwhile, as the crypto market is finding its bullish momentum, American media personality Jim Cramer is playing some foul play. Even though his previous statements and predictions have proven wrong, he claims the current market recovery as manipulative.
Cramer’s speculative statement comes after the fall of FTX exchange which has proved a few questions. Firstly, he questioned investor’s blind trust towards FTX founder, Sam Bankman-Fried. However, what needs to be noted here is, a few months before FTX collapsed, Cramer had praised SBF as a new J.P Morgan.
After the FTX collapse, most of the crypto experts including Jim Cramer believed that the market will face a massive pull back. Now, when the market is moving in the opposite direction, the speculations of manipulation have popped up.
Hence, now it all depends on the crypto market performance in the coming days which will either prove Jim Cramer’s comments true or false.