Jim Cramer Says We Have A Good Chance To Get Out Of Crypto Again

The digital currency ecosystem has seen very positive growth, and despite this continued bullish sentiment, popular market analyst Jim Cramer said: advised Investors need to get out of investing now. Cramer said on Twitter that he cannot trust the combination of cryptocurrencies and Chinese stocks.

“Neither can be trusted, so it’s a good chance to get out of cryptocurrencies and scale from Chinese equities,” he said.

Total cryptocurrency market capitalization increased 3.55% to $853.94 billion, maintaining traction above $17,000, riding Bitcoin’s (BTC) 2% growth. With almost every altcoin within the top 100 market caps registering impressive growth over the past 24 hours, the right conditions are in place for short-term investors to divest themselves of stocks for a fair return.

Jim Cramer was once a proponent of cryptocurrencies, especially Ethereum, but in recent months he’s flipped back and joined an increasing number of critics of the emerging asset class. Cramer maintains his bearish forecasts for digital currencies, and the latest call for crypto holders to sell their assets shows his determination to wean more people from their crypto cravings.

HODLers may remain stubborn

Many people in crypto today made their first investment months or even years ago. Using Bitcoin as an example, so many people must have bought the coin before the price dropped below $20,000, a psychologically significant level.

As a mantra for continued profit, many buyers are encouraged to HODL their coins, i.e. hold until the price returns to favorable levels. Bitcoin is down more than 58% over the past year, so many buyers may not heed Cramer’s advice to sell now.