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Jim Cramer sends strong message amid US government shutdown
CNBC’s Mad Money host Jim Cramer is known for his market calls. And this time, he has something to say about the crypto market. Often referred to as the “Inverse Cramer effect," Cramer's market commentaries gained traction online as traders noticed that assets he endorsed sometimes declined shortly afterward, while those he dismissed occasionally rallied.
Jim Cramer wants to use 'some blockchain'
On Nov. 11, Cramer said on X, “We could really use some blockchain on a day like today,” in reference to widespread market volatility. At the time of writing, the S&P 500 was up 0.22% following news that the United States Senate had passed a funding bill to end the longest government shutdown in history, which entered its 41st day on Monday. In contrast, the crypto market traded in the red. Bitcoin (BTC) slipped 3.2% to $102,844 after briefly touching the $106,000 mark. Ethereum (ETH) fell 3.9% to $3,439.09, while Solana (SOL) dropped 6.8% to $156.53. XRP followed with a 6.5% decline, changing hands at $2.41.
Cramer's offhand comment sparked debate among traders and crypto enthusiasts on X, with many panicking that it might lead to a further downward trend for the broader crypto market.
Jim Cramer's remarks comes as analysts assess reopening U.S. government
According to analysts at Bitunix, the development carries major implications for digital assets, as a revival in liquidity could spark renewed capital inflows into cryptocurrencies such as Bitcoin and Ethereum (ETH). They noted that if regulatory agencies, such as the United States Securities and Exchange Commission (SEC), resume normal operations, crypto exchange-traded funds (ETFs) and similar products could move toward approval more rapidly. Such instruments, they added, may attract substantial institutional investment. “The turning point in the government shutdown offers a rare liquidity window,” Bitunix analysts said.
Jim Cramer's previous calls
Cramer’s position on crypto remains largely skeptical, and crypto is not immune to inverse Cramer effects. The Mad Money host has frequently cautioned investors that digital assets are speculative and lack tangible value metrics such as earnings or dividends. He has described crypto as “dangerous” and advised traders to sell during periods of high volatility, although he occasionally mentions that assets like Bitcoin may have a role as alternative stores of value. One of his latest comments on crypto before today was on Oct. 14, when Cramer told investors to move money from crypto and "put that money into real economy stocks."
This article has been published in thestreet.com via Yahoo News.
Jim Cramer fires off strong words on crypto amid government shutdown news
CNBC’s Mad Money host Jim Cramer is known for his market calls. And this time, he has something to say about the crypto market. Often referred to as the “Inverse Cramer effect," Cramer's market commentaries gained traction online as traders noticed that assets he endorsed sometimes ...
finance.yahoo.com
