The crypto industry faces a fresh wave of skepticism from renowned personalities Jim Cramer and Crypto Capo.

While the crypto market is no stranger to volatile swings, the bearish outlook from these financial pundits sends ripples across the crypto community.

Crypto Winter Is Not Over

Jim Cramer, the ex-hedge fund manager and host of CNBC’s Mad Money, continues to voice his bearish stance on crypto.

“I can’t go out with gold because gold is not good; I can’t go out with Bitcoin because I can’t be in something where Mr. Bitcoin is about to go down big,” Cramer stated.

It is unclear if “Mr. Bitcoin” referred to Sam Bankman-Fried due to the ongoing court hearings or the pioneer crypto itself. Nonetheless, Cramer’s pessimistic outlook was palpable.

Such skepticism towards Bitcoin is not new. In June 2021, Cramer disclosed selling most of his Bitcoin holdings post-China’s crypto miner crackdown. He also highlighted structural issues within Bitcoin, predicting a further price decline.

Likewise, Crypto Capo, a reputed cryptocurrency analyst, shared Cramer’s grim perspective, especially on altcoins. According to him, a massive 70% to 80% drop in altcoin prices from current levels is brewing.

Read more: 11 Hot Meme Coins and Altcoins that Trend in 2023

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Author: Bary Rahma

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