Several analysts warn that this might be the time to get out of crypto, even as the collapse of FTX sends shockwaves through the crypto markets.
Television host and author Jim Cramer commented on the recent crash in crypto prices after discussing the news that the FTX exchange was insolvent. Cramer also urged those watching to take advantage of the slight rebound in prices to get out of the market.
Analysts warn of extended crypto bear market
“We have individuals who are in these things right now. And you’re getting a huge move up because of the CPI. That’s your chance…Please sell something or get off margin,“ Cramer pleaded.
Cramer’s statements come in the wake of a shocking week that saw one of the most trusted cryptocurrency exchanges, FTX, enter bankruptcy. Its filing sent markets reeling, causing major cryptos to have their CPI-related gains wiped out.
Bitcoin fell to roughly $16,750 after rallying to…
