CNBC’s Jim Cramer, in his daily “Stop Trading” segment, addressed the recent decline in Bitcoin, suggesting it might present a buying opportunity for those still on the sidelines. Noting three consecutive days of declines and $330 million pulled from BlackRock’s Bitcoin ETF, Cramer acknowledged the atypical nature of the downturn.
Despite the dip, Cramer reiterated his positive outlook on Bitcoin, advising viewers to watch it closely. He suggested a potential entry point around $90,000, viewing Bitcoin as a valuable hedge, particularly in light of what he described as a $36 trillion market opportunity for the cryptocurrency.
Cramer linked Bitcoin’s price action to “animal spirits” and younger investors, emphasizing the significant role of options trading on the Robinhood platform. He criticized larger firms for overlooking the influence of Robinhood and its younger demographic, predicting continued loyalty to the platform from this segment of investors.
