Jim Cramer Predicts Crypto Market Will Crash, Investors Directly Buy Cryptocurrencies

JAKARTA - Jim Cramer, a well-known figure in the financial market, has again drawn his predictions by saying that the crypto market will collapse. Cramer, who is also a host on CNBC with the Mad Money program, has a big influence among investors, including in the crypto market.

Instead of Cramer's warning about the potential for market destruction, the public agreed, but what happened was the opposite. This is evidenced by the large number of investors who welcome the potential for a reversal of the direction of the crypto market.

On Monday 13 January, Cramer wrote on platform X that the market would experience a "terrible opening" and warned "there would be huge losses coming".

The post was immediately responded to by the public with more than 850,000 views, as well as 1,800 shares and 1,300 comments. However, interestingly, the majority of comments do not reflect their concerns, in fact many celebrate these predictions.

This public attitude is quite reasonable, considering the phenomenon known as the Inverse Cramer Index, which indicates that the market often moves opposite to what Jim Cramer predicts.

Inverse Cramer Index has been used for years by investors as a barometer to see if the market will move opposite to what Cramer estimates.

In fact, there is an exchange-trained fund (ETF) product called SJIM that invests on this basis, with a strategy to benefit from Cramer's wrong predictions. Therefore, many investors are actually optimistic after hearing Cramer's predictions about the possibility of market destruction.

Even so, data from Coininglass shows that the crypto market is indeed under pressure. A total of 400 million US dollars (Rp 6.48 trillion) liquidation was recorded on Monday. Some analysts even estimate the price of Bitcoin could fall lower, even reaching $77,000 if the graph pattern shows signs of a negative reversal.

At the same time, a report from CoinGape assesses that some crypto analysts are optimistic that Bitcoin can stay at a support level of US$90,804 (Rp1.47 billion) and potentially record a new high of more than US$108,000 (Rp1.75 billion).