Jim Cramer advises when to buy and when to sell Bitcoin

Famous Mad Money show host Jim Cramer advises when is a good time to enter and exit the Bitcoin market.

One of the best known figures in the world of financial markets is Jim Cramer, host of the Mad Money program. What few know about Cramer is that the financial analyst and television star is a huge believer in cryptocurrencies. Having acquired a certain amount in Bitcoin in the past as an investment. For this reason, in the midst of the great bull rally that the cryptocurrency continues to experience, Jim Cramer advises when to buy and when to sell Bitcoin.

The times of Bitcoin

When it comes to investing in Bitcoin there is a reality that we cannot ignore. Either we want to invest long-term in cryptocurrency, and therefore we can buy crypto assets and hold them in hodling for months and years. Or we want to take advantage of the rise in BTC prices and generate quick profits amid this new big bull rally.

For this reason, one of the main skills that any Bitcoin investor should possess right now is knowing when to enter and when to exit the market. Well, as demonstrated by the collapse of BTC prices yesterday, the volatility in the price of the cryptocurrency can generate huge losses, but also great opportunities to make money.

However, to achieve this ideal, buying when the price of Bitcoin is low, and selling when it is high, we must try to understand the operation of this market. Which is why Jim Cramer, host of Mad Money gave his advice on investing in Bitcoin.

Jim Cramer’s vision

Thus, Cramer began by explaining that the popularity of cryptocurrency in these times is explained from the distrust of consumers with respect to the US dollar. Well, as governments increase monetary liquidity in the market, to face the economic crisis of COVID-19, fears of a possible return to inflation increase.

“People no longer believe in fiat money (…) People believe that the United States is printing money (…) But Bitcoin is not printing Bitcoin. So it is more valuable in the same way that gold is hard to find. And the price of gold is growing, we find, around 1% more than what we had the previous year, that’s all.

Therefore, for Jim Cramer, buying Bitcoin as a safe haven against inflation makes sense, thanks to its scarcity. This does not mean that we should trust ourselves with our BTC, because for Cramer it is important that we see our investment in Bitcoin as any action in the stock market: “Yesterday I sold enough Bitcoin to recover my initial investment, which is what I would do if it were of an action. I take out my base and then let it run (…) I’m not going to look at Bitcoin again. I’m fine with Bitcoin until I get back to where I bought it and then I’ll rate it again, maybe I’ll buy it again.

So according to Jim Cramer’s strategy, the important thing when investing in Bitcoin is knowing when to withdraw from the market. As he says, when you have doubled the value of your investment, it is a good time to withdraw money and stay safe.

Reference: criptotendencia.com

Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.

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