Jim Cramer Says Spot ETF Approval May Not Follow 'Sell The News' Script
Portfolio Pulse from Mehab Qureshi
Jim Cramer, host of CNBC's 'Mad Money', discussed the potential market behavior of Bitcoin in light of the SEC's approval of Bitcoin ETF applications. He suggested that the typical 'sell the news' pattern might not occur with Bitcoin's price, which recently reached $47,000. Cramer has previously expressed a preference for holding actual Bitcoin over related stocks like Riot Platforms and has been skeptical about investing in crypto due to legal issues in the industry.
January 11, 2024 | 3:26 am
News sentiment analysis
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Jim Cramer suggests Bitcoin may not follow the 'sell the news' pattern after SEC approval of Bitcoin ETFs, indicating a potential deviation from expected market behavior. Bitcoin recently hit $47,000.
Cramer's comments could influence investor sentiment, potentially leading to a less pronounced 'sell the news' effect and maintaining or increasing Bitcoin's price in the short term. His influence and the recent price action of Bitcoin support the possibility of a positive impact.
CONFIDENCE 75
IMPORTANCE 85
RELEVANCE 100