coinedition.com
Changpeng Zhao, the CEO of Binance, the largest crypto exchange, pokes fun at the staunch crypto skeptic Jim Cramer, who often asked crypto investors to sell their Bitcoin holdings at a loss.
The Binance CEO derided Cramer yesterday on Twitter after the crypto skeptic’s pessimistic projection about crypto turned out false. Zhao sarcastically told him, ‘please continue’ spreading messages of fear, uncertainty, and doubt (FUD) about the crypto market.
This is just too accurate now. Cramer posted this on Jan 9, the day before Bitcoin went from 16k to 20k.
— CZ 🔶 Binance (@cz_binance) January 14, 2023
Please continue to FUD crypto! 🙏 https://t.co/pDkk1BnfAr
On the day Bitcoin broke the $17k price point this month, Cramer told crypto enthusiasts it was an excellent opportunity to exit the market. In his words:
[It is a] good chance again to get out of crypto and scale out of Chinese stocks as neither can be trusted.
Due to the FTX fiasco, Bitcoin (BTC) fell from over $21,000 to a two-year low of $15,883 last November. The coin never recovered its $21k price until yesterday, when it traded at $21,075, the first time in nearly nine weeks, according to data from the market tracking platform, CoinMarketCap.
While the crypto market suffered significant price depreciation, Jim Cramer continuously told crypto investors that it was never too late to exit an awful position. In one of his shows on CNBC last month, he said:
You can’t just beat yourself up and say, ‘hey, it’s too late to sell.’ The truth is, it’s never too late to sell an awful position, and that’s what you have if you own these so-called digital assets.
However, in an exciting turn of events, the global crypto market cap is on track to cross the $1 trillion valuation again after it closed 2022 below $790 billion.