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ETH=-246.07 (-16.64%)
Bitcoin offices in Istanbul, Turkey, on May 11, 2022.
Umit Turhan Coskun/NurPhoto via Getty Images
CNBC’s Jim Cramer called bitcoin’s collapse Crypto Monday, in what he fears is Day 1 of a reckoning in the digital currency market.
In speaking off-air to tech executives during his trip to San Francisco last week, Cramer said he got the sense that Silicon Valley thinks crypto is a con and its promoters have taken an awful lot of money from unsuspecting investors. That revelation was just one of the 15 things Cramer said he learned from spending time out West for the first time since the beginning of the Covid pandemic.
Cramer, who has put some of his own money in crypto in recent years, said he was able to get his money out of ether, the world’s second-largest crypto, which was tanking 20%. He said he basically broke even on his original investment.
Monday’s 17% plunge sent in bitcoin under $23,000. That’s a 66% nosedive from its all-time high...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...