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Aug 31, 2022
by Usha Yadav
Jim Cramer Says, Avoid All Speculative Investments Like Crypto
Table of contents
The turmoil in the cryptocurrency market has already shaken numerous people. Many people were shocked by the recent market turmoil that caused Bitcoin to fall below $20,000. Jim Cramer, the host of CNBC's Mad Money, has been outspoken about his love-hate relationship with cryptocurrency. Cramer brought out the latter, advising the community to avoid speculative investments like cryptocurrency. The CNBC host cautioned investors to avoid the sector while reeling from it. He continued by relating it to the Federal Reserve's current tightening cycle.
Jerome Powell, the chairman of the Federal Reserve, stated last week that they had made efforts to lower inflation. He warned American homes and companies that the procedure would cause "some pain" in the interim. He added,
"Look, Fed chief Jay Powell told us we must stop doing stupid things with our money. That was the thrust of his speech on Friday."
Jim Cramer Advises Investors
Cramer pointed out that crypto investments would experience pain in addition to these firms and people. But he also thought that until there is a massive washout of anything speculative, the world won't "see the end of this downturn."
Although Cramer emphasized cryptocurrencies, he clarified that it wasn't just about them. He advised investors to avoid crypto and other speculative market segments such as money-losing companies taken public by special purpose acquisition corporations (SPAC) and meme stocks.
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.