Mad Money Jim Cramer pleads crypto investors to take profits with them-says I don't want to lose money-markets and prices

Mad Money Jim Cramer pleads crypto investors to take profits with them-says I don't want to lose money-markets and prices

The host of Mad Money, Jim Cramer, begs crypto investors to take profits from all crypto win in their portfolios. "I ask you to do so. Don't let it be lost," he said, emphasizing: "I don't want to lose money."

Jim Cramer from Mad Money advises investors to take profits from crypto profit

The moderator of the Mad Money Show from CNBC, Jim Cramer, said on Monday that cryptocurrency investors should take profits from their crypto stands if they have profits in their portfolios. As a former hedge fund manager, Cramer was a co-founder of Thestreet.com, a website for financial news and literacy.

he said:

I know that the crypto lovers never want to hear me sell, but if you make a big win like me, I ask you to do so. Do not let it become a loss. Some sell, stay the rest for a long time, then we wait for China to change his attitude towards a rescue package for Evergrande.

Cramer warned that Evergrand's fights, a large real estate developer in China, will probably continue to burden the cryptoma markets. Evergrande also works in other industries such as healthcare services and electric vehicles. The company has total liabilities of more than $ 300 billion and recently warned investors that it could not comply with its debts.

The host of Mad Money explained that his crypto concerns now begin with Tether ( usdt ). "The problem with Tether is that it is covered by various stocks, and about half of them are Commercial Paper - short -term loans - and much of it is accepted, but we don't know, Chinese Commercial Paper," he said.

Cramer added: "Tether said that they have no ever-grand exposure. But tons of Chinese companies are crushed by this fiasco, and they have ever-grass exposure, and that could mean real problems if the domino stones fall here." He warned: "If the Tether collapses, well, then it will be hollowing out the entire crypto ecosystem.

Nonetheless, the Mad Money host emphasized that he still sees potential for cryptocurrencies to become “mainstream”. He said:

At the moment, the possession of crypto is a so -called "overcrowded" trade and I don't want you to lose money if this area is repeatedly hit by ever -grands.

in August, Cramer recommended that investors should create up to 5% of their portfolio in cryptocurrency. In June he revealed that he had sold his bitcoins and bought Ethereum and quotes that "it is more of a currency".

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