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Bitcoin Will Flourish Using The Fact That Jim Cramer Is Almost Always Wrong

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Back in early December, Jim Cramer, the host of CNBC’s Mad Money, had predicted that Bitcoin (BTC) was going to be annihilated for it was similar to ‘Monopoly Money’. He had also called Bitcoin suspicious for no one knew who Satoshi Nakamoto was. This was before the King of Crypto experienced its highest value of $20,000 a few days after his comments. His comments bashing BTC resulted in the digital asset doing wonderful gains in the market.

A few days later after BTC peaked at $20,000, Mr. Cramer once again predicted that Bitcoin would not replace Gold. He was quoted as saying the following:

“The jaw-dropping run in Bitcoin has been very exciting. But gold is not being supplanted by Bitcoin as the go-to alternative to actual currency.”

His comments were also wrong given the fact that during the ongoing crypto-market decline, many crypto-traders have found a safe haven with BTC. This then has led to the dominance of Bitcoin increasing from levels of 36% seen in May, to current levels of 53%.

He Was Wrong Before the Wallstreet crash of 2008

Going back further in time before the financial crisis of 2008, Jim Cramer had been quoted as saying that Bear Stearns was fine on his show – Mad Money. He is quoted as saying the following back in 2008:

“No! No! No! Bear Stearns is fine. Do not take your money out. Bear Stearns is not in trouble. If anything, they’re more likely to be taken over. Don’t move your money from Bear. That’s just being silly. Don’t be silly.”

Jim Cramer’s Most Recent Comments

Just yesterday, the 14th of August, Jim Cramer predicted that the Bitcoin will continue dropping in value because the tide had turned against BTC. He also stated that its price will level out around $800 – $1,000. Cramer made these statements on CNBC’s ‘Squawk on the Street’ where he said:

“This thing has really become like an outlaw currency…I think the tide has turned against it. I’m not saying its time has passed but there is a notion that the sun seems to be setting…Maybe we get back to a level…of $800 or a thousand”

Using the laws of probability, Cramer has on more occasions been wrong about Bitcoin than right. Therefore, his most recent comments can be used to predict that we are indeed headed for better times in the market. Perhaps even surpassing last year’s high of $20,000 per BTC.

Evidence of a potential market recovery can be seen with the increment of volume in the markets. The current total crypto market capitalization has gone back to levels above $200 Billion and looks set to regain levels of $250 Billion that were seen before the SEC announcement to postpone ruling on the Bitcoin ETF.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

The rise of the crypto casinos

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In the hyper-competitive world of online casinos, operators are always looking for ways to stand out from the crowd. The most usual methods include using distinctive branding, offering generous bonuses and making sure that they are on all of the major so-called affiliate sites where players can compare and contrast casinos’ different offerings.

But now a whole new generation of casinos are starting to emerge – ones whose key difference isn’t what and how you play, but more in how you pay.

The rise and rise of the cryptocurrency casino is seen by many as the next logical step in a world that is slowly but surely starting to accept that Bitcoin, Ethereum, Ripple, et al. are certainly here to stay.

Of course, it’s the first of these cryptocurrencies that has really grabbed the headlines and led the way with its meteoric performance in 2017 when it seemed like its $20,000 value was just the start of the story. Admittedly, this was short-lived and the value quickly fell back to a more sustainable level but, if it achieved one thing, it was to cement this exciting new kind of currency in the consciousness of the general public.

Why Bitcoin and online casinos are the perfect partners

In many ways, it’s the perfect partnership between Bitcoin and online casinos with multiple benefits for both.

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Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

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The Bitcoin Revolution: Everything You Need To Know To Take Profits

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Bitcoin is soaring high in the cryptomarket once again, and experts are expecting a return of the bullish trend of 2017. The current Bitcoin price is $7,615 as of 23 May 6:56 AM UTC. This significant jump comes just six months after the Bitcoin price plummeted to a low of $3150 in December 2018. Since then, Bitcoin has experienced steady growth and gain in the market. However, in the last 30 days, the Bitcoin price peaked to $8,320.82, its highest price ever. This phenomenal jump occurred in a span of only 10 days breaking the Bitcoin record so far of significant gains made in short time frames. This positive growth has led to experts forecasting the Bitcoin price to hit the $20,000 mark by the end of this year.

Since entering the market almost 11 years ago, Bitcoin is still at the top of the global cryptocurrencies list. The current circulating supply of Bitcoin is at unbelievable 17,708,875 BTC. The market trend of the Bitcoin price has remained positive even when the currency did not maintain an uptrend. Cryptocurrency researchers believe that Bitcoin has the potential to grow up to a high of USD 50,000 within the next two years.

How to Profit from Bitcoin…

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