Jim Cramer: BTC is more dead than alive

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Jim Cramer: BTC is more dead than alive

The analyst believes that the cryptocurrency is outside the law and encourages terrorism and serves as a tool for money laundering.

Ex-Manager hedge funds Jim Cramer is confident that the bitcoin is probably already dead. Such a statement he made at a difficult time for the currency and the cryptocurrency market in General. The price of the digital cryptocurrency is around $6000, several times falling below this number during the week.

During his speech, the host of CNBC noted that in his view, all aspects of the financial market turned against bitcoin.

It looks like the sun over it soon goes out. The fall of bitcoin comes from the beginning of August. The price of BTC in $6285,86 experienced some sharp drops. With the beginning of the year BTC has fallen by almost 60 %. Delay SEC approval BTC ETF, is due to the declining confidence of retail investors to the market. Even the emergence of some positive developments on the institutional front, the currency crisis in Turkey did not cause the rise of cryptocurrency prices.

— said Kramer

However, the opinion of the imminent death of bitcoin is clearly inaccurate, given the nascent nature of the market. All signs point to a bitcoin ETF, which will likely be approved in early 2019.

Currency outside the law

According to Kramer, bitcoin has indeed become similar to the “currency outside of the law.” In an interview, he once again napagy that BTC is the national currency of terrorists, drug traffickers and serves as a tool for money laundering.

In 2017, Kramer already talked about the fact that the only reason that bitcoin can reach prices of $1 million, that’s extortion and blackmail. However, the report showed that the number of cases of laundering of money through cryptocurrency has dropped significantly.

Earlier we wrote about the opinion of brown Kaylee about the future of bitcoin.

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