Jim Cramer suggested people buy Bitcoin & Ethereum as the best alternative to Marathon Digital.
Jim Cramer is a 70-year-old American television personality, author, entertainer, and former hedge fund manager. Wall Street expert Cramer is known as a Crypto hater but he personally invests in Bitcoin & Ethereum for a short term. He believes that investment in digital assets may turn in better profit for the short term but these assets are not better for long-term investment.
On 17 April 2024, CNBC reported that Jim Cramer suggested people invest in Bitcoin & Ethereum, instead of investing in Marathon Digital.
Cramer knows very well that the trade price of the top Cryptocurrencies is facing a huge downfall, as a part of Middle East war tensions.
Due to huge volatility in the trade price of the crypto assets, Marathon Digital’s stock has experienced a tumultuous period, with its value dropping by over 20% in the past month. So he believes that it is better to buy BTC & ETH directly, instead going for Marathon Digital stock.
Bitcoin to $51.5k fear
On the same day, a popular crypto analyst shared his analysis on Bitcoin trade price and noted that the strong level for Bitcoin was $62k and if Bitcoin falls below this level, attention may turn to the next important price level at around $51,500.
For the positive sentiments, analyst said that if Bitcoin rises above $66,250 again, it could greatly increase the likelihood of the bull market starting again.
It is worth it to note that Bitcoin plummeted below the $60k level on the same day, just a few hours later of this shared analysis. Now it will be interesting to see how the trade price of Bitcoin will react and how the sentiments in the money market will change amid war tensions between Israel & Iran.
Read also: Binance is ready to re-enter the Indian crypto market with FIU registration
Bitcoin may crash to the $51k level but still crypto hater Jim Cramer suggests Buy BTC & ETH
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