Crypto Market Capitalization Will Fall Below $1 Trillion — Jim Cramer of CNBC

CNBC host Jim Cramer said that the crypto has no real value and predicted that the market capitalization will continue to fall.

Cramer was a well-known host on CNBC’s Mad Money, but he was able to build a certain reputation in the cryptocurrency community. His predictions, which were often wrong, and his attitude towards cryptography, which often changes from love to hate, have long been the basis for various memes.

In a CNBC Squawk Box segment on July 5, Cramer commented on the bearish performance of various asset classes in 2022, stating that there is no real value in cryptocurrencies and market capitalization should fall below $1 trillion.

Interestingly, just two months ago, Cramer enthusiastically stated that he believes in Ethereum and that investors can easily get a 35-40% return on their investment in the near future.

This prediction was made when Ethereum (ETH) was worth roughly $3,000 and the price has dropped 62% since then.

On Twitter, after Kramer’s statement, users already started to joke that the bear market had come to an end.

Perhaps the bears will indeed begin to loosen their grip on the cryptocurrency market, but you should not count on the jumps in prices for crypto assets to new all-time highs in the next couple of weeks.

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