American Star Jim Cramer spoke about his experience and made an unpopular statement within the cryptocurrency industry.
Jim Cramer is a popular star in America. He has once involved in Bitcoin & Ethereum investment but later, he noticed a massive market for pump and dumps in the crypto space. In the most recent interview on CNBC, Jim shared his experiences and revealed that he gambled.
According to Jim, according to Jim that the entire cryptocurrency market is built on the idea of “greater fools theory”. There are millions of fools on the cryptocurrency market. Jim believes that anyone can make money by purchasing at a low price and then selling it at a higher price.
In the China crypto ban, the entire cryptocurrency market plummeted with an in-between. After the ban, Jim had to sell all of his bitcoin holdings, and today Jim is currently on Ethereum holdings.
Jim declared that they have no connection or affection with Ethereum and declared that he plans to sell the entire Ethereum at a premium price.
“I do not have any particular connection to Ethereum and I’ll eventually ring the register for the remainder of my account after I’m sure it’s finished increasing”
Jim also stated that he believes crypto assets act as an investment to protect against inflation, however, his involvement within the crypto sector is not an element of the. In addition, Jim said that he is a crypto gambler.
“I did not buy bitcoin or Ethereum as an inflation-proof insurance. To be honest I was just gambling. I was just betting on crowd psychology, however I don’t have any clue as to why these numbers increased.”
The entire conversation by Jim Cramer shows clearly that the interviewer has no education in the field of crypto trading. At Least it should be an idea of “buy at the moment of the crash and sell when the market is at its peak”. Instead, he believes that the market is entirely based on speculation, and trading is like gambling on speculation.
Read More : El Salvador Now Holds A Total Of 1,120 Bitcoin