Jim Cramer Says 'Buy Fear, Not Sell It,' Crypto Community Reacts

investing.com 20/12/2024 - 16:18 PM

U.Today

Financial commentator and Mad Money host Jim Cramer has tweeted about an impending U.S. government shutdown expected this Saturday.

Cause of the Shutdown

The shutdown is likely due to the newly elected U.S. president disapproving the 2025 funding bill, which includes pay rises and various benefits for Democratic congressmen. Tech magnate Elon Musk has also criticized the bill on X.

Cramer's Investment Advice

Cramer advises to "buy fear, not sell it"

The president demands Congress pass the bill without the proposed extra costs and salary increases, which would allow the government to temporarily raise the national debt limit. If the bill fails, a shutdown will occur this week.

Jim Cramer has analyzed every government shutdown since Bill Clinton, determining that it is often best to "BUY the fear, not sell it."

Response from the Crypto Community

The crypto community reacted to Cramer's tweet, particularly regarding Bitcoin. Historically, the market tends to respond oppositely to Cramer's predictions. When he suggests assets will decline, they often rise instead, and vice versa.

In response to Cramer's advice to "buy fear," many commentators suggest selling instead. Bitcoin recently experienced a significant decline, dropping nearly 10% from around $102,450 to about $92,951. Currently, it has rebounded to approximately $95,200. The decline is attributed to Federal Reserve Chairman Jerome Powell's statement about reducing interest rate cuts next year; instead of a 100-basis-point cut, a 25-basis-point cut is anticipated in early 2025.

This article was originally published on U.Today




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    Greed and Fear Index

    Note: The data is for reference only.

    index illustration

    Fear

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