Jim Cramer Says "Bitcoin Is Going Down"... Crypto Investors Cheer.

Bitcoin investors have begun to rejoice after Jim Cramer, an economic commentator nicknamed the "Pele of asset markets" for his ability to predict the exact opposite of what he says, predicted a decline in Bitcoin (BTC). "Bitcoin is currently overbought," Cramer wrote in a post on his X account on Jan. 1 (local time), "sell rather than buy."

Jim Cramer has made a name for himself during this year's bitcoin bull market by making some surprising calls that have turned out to be the opposite of his predictions. In January and March of this year, Bitcoin hit all-time highs not long after Jim Cramer expressed his opinion that Bitcoin had peaked and was about to fall. As such, investors began to cheer his predictions, hoping that Bitcoin would bounce back from its recent correction.
Bitcoin is currently down about 6% from its peak, as net inflows into U.S. bitcoin spot exchange traded funds (ETFs) have underperformed its peak.