CNBC celebrity Cramer made the encouraging predictions after studying a chart presented by Tom DeMark(founder and CEO of DeMARK Analytics) in which he predicts that Bitcoin will take a breather and rise beyond the levels it is currently trading at.
Cramer is confident that a “pleasant respite” is ahead for BTC investors in the coming months, even if he doesn’t see the crypto reaching its highs of over $69,000 in the coming years!
When it comes to selling cryptocurrencies, Cramer said investors in the red will get better prices to resell in the medium term.
The CNBC Mad Money host noted that DeMark has created a “13-step buy and sell countdown timer” over the years that allows him to determine the peaks and troughs of the market. Bitcoin.
Along with delving into DeMark’s most recent chart, Cramer also looked at Bitcoin’s performance since April 2022.
He discovered a crucial feature that demonstrated that Bitcoin has never fallen 50% between 2020 and now, so the current exception would be caused by theTerra Ecosystem Collapse.
“Bitcoin will have difficulty reaching new heights”? We think not
According to Cramer, when an asset suffers such a steep decline, the asset in question often suffers structural damage. According to him, it may be decades before Bitcoin regains its highs; or maybe never!
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However, we believe Bitcoin is fully capable of rise very quickly to its record levels. He has done this several times in the past. Its price had dropped below $4,000 in 2018.
In January 2015, BTC traded below $200 after having surpassed $1000 in 2013. In any case, the first cryptocurrency reached new heights in the 4 years that followed. Four (4) years is also the length of the cycle of BTC fluctuations.