Crypto critic and host of Mad Money on CNBC, Jim Cramer, said in his latest stunt that the crypto industry is desperately trying to keep things going, which he thinks is similar to what happened with bad stocks during the dot-com bubble.
Last Monday, Cramer said on his CNBC show that it is never too late. He told crypto investors to sell at a loss and said that it was never too late. What he said:
You can’t just beat yourself up and say, “It’s too late to sell.” In reality, it’s never too late to sell a bad position, and if you own these so-called “digital assets,” that’s exactly what you have.
Also, Cramer based his point on the fact that the FTX cryptocurrency exchange, which was worth $32 billion at its peak, went bankrupt. He said that new crypto projects like Ripple (XRP), Dogecoin (DOGE), Cardano (ADA), and Polygon (MATIC) would drop even more, maybe to zero.
Related: Forget about crypto winter; this is a “bloodbath” for bitcoin.
At the end of last month, US Senator Elizabeth Warren said in public that it was time to “regulate crypto, or it’ll deteriorate.”
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