Cramer Reveals New Crypto Prophecy

CNBC host Jim Cramer predicted a crash for Bitcoin and some cryptocurrencies on Mad Money. Cramer, who has become famous for his predictions for the crypto market in recent years, came to the fore when his predictions were reversed.

While Jim Cramer occasionally made ambitious predictions about the crypto markets, these predictions were often reversed. However, as an exception, the famous presenter correctly predicted the fall in June. Cramer, based on the Fed’s current policy at the time, said that cryptocurrencies would continue to decline.

While Jim Cramer said in his last show that investors still have time to exit, this time he predicted that the crypto markets will crash in 2023.

The CNBC host also took his guess a step further and talked about the worst-case altcoins, according to him. According to Cramer, the value of Cardano (ADA), XRP, Polygon (MATIC) and Dogecoin (DOGE) could be reset in 2023. Jim Cramer’s disaster scenario was not limited to these altcoins, and he stated that the market’s largest stablecoin, USDT, also carries a serious risk. Cramer said that in 2023, USDT could be reset by falling into a similar state to TerraUST, the stable asset of the Terra ecosystem. The USDT issued by Tether is currently an important asset in the cryptocurrency markets, with a market capitalization of $65.5 billion and an average transaction volume of $25 billion.

Jim Cramer said his industry has struggled to keep crypto assets afloat, but he believes these assets will suffer the same fate as stocks from the dot-com crash of the 2000s. Cramer also predicted a $12,000 bottom price for Bitcoin in his previous posts, but the largest cryptocurrency yet continues to trade above the level he predicted.

On the other hand, this week, multinational financial institution Standard Chartered claimed in its 2023 report titled financial market surprises that Bitcoin could fall as low as $5,000 next year. In this case, the International bank estimates that Bitcoin could withdraw another 70% from its current value.

Contrary to Jim Cramer’s pessimistic prediction, the institution attributes a possible collapse in the crypto market to a decline in tech stocks and states that the acceleration of Bitcoin sales with a chain effect could lead to more bankruptcies in the crypto industry.