CNBC host Jim Cramer believes that in the coming months, bitcoin can recover most of the losses, but do not expect new price records.
Jim Cramer bases his opinion on the analysis of Tom DeMark. He analyzed the charts of the first cryptocurrency and announced a possible recovery in the price of BTC.
“The charts, as interpreted by Tom DeMark, suggest that bitcoin could show a nice rally in the coming months. However, the analyst does not see that the BTC rate can return to its previous heights. I can’t advise buying bitcoins at current levels, but if you have coins and want to sell them, then before the next fall, I bet you can get a better price to exit the position, ”the host of the Mad Money program emphasized. .
Cramer noted that Bitcoin has not fallen more than 50% since 2020. And, quite possibly, it will take years or even decades for the first cryptocurrency to achieve new records. And it is possible that we will never see new heights. But this, the host emphasized, does not mean that bitcoin cannot win back a significant part of the fall.
At the beginning of the month, Jim Cramer said that BTC and ETH could be the best investments for the long term, but they should be allocated no more than 5% of the portfolio.