CNBC host and co-founder of theSteet.com Jim Cramer said that when Bitcoin (BTC) falls below $ 20,000, he is a “buyer again”.
What happened: Cramer said he would buy bitcoin again when it drops below $ 20,000. He mentioned that he tried to negotiate over the weekend and said it was “very difficult to do”, despite having “many resources about it”, in an interview today.
“People need to realize that this is a different market than any you’ve ever seen. We don’t know who’s buying, we don’t know who’s selling, we don’t know what’s going on. “
Cramer called the crypto market “nothing other than totally erratic stock, except that it is traded 24 hours a day, 7 days a week”.
The CNBC host also mentioned that he was about to speak to Jeffrey Sprecher, CEO of Intercontinental Exchange Inc (NYSE: ICE), whose company is “offloading a large part of its crypto business, basically creating a Coinbase for points in cryptography. ” He expressed his hope that this move would bring liquidity to the market because “we don’t have that”.
Why it matters: The crypto market had $ 200 billion eliminated in the past 24 hours, after reaching $ 1 trillion on January 6. It has recovered some positions since then and is currently at $ 956.6 billion.
Bitcoin, which hit a record high of $ 41,000 three days ago, fell to $ 30,450 today and was trading at $ 3,5104.83 to date.
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