The value of Bitcoin has been on the rise after dropping below $38,00 today. This is why Jim Cramer of CNBC has proposed that now might be the time for investors to roll out their holdings before another drop.
Cramer has been monitoring the performance of Bitcoin closely and noted how well it started its recovery rally earlier this week. He sees the recent rally as a good time for investors to book profits because he doesn’t expect another flush of money into that market.
However, Cramer has previously expressed bearish sentiments on Bitcoin. He recently said that he doesn’t believe Bitcoin will find its balance, and it is “doubtful” if it can sustain gains.
Nevertheless, several industry professionals argue that a contrarian rally might take place after Cramer’s negative sentiment toward Bitcoin. However, investors have to determine the suitability of Cramer’s advice based on their risk orientations.
Also Read: Swan Bitcoin Makes Foray into Large-Scale Mining Operations
