SNEAK PEAK
- CNBC’s Jim Cramer has told investors to buy the dip.
- Jim believes that the current sentiment of the market is bullish.
- Cryptocurrencies are trading in a sideways direction today.
Jim Cramer of CNBC told investors on Tuesday that the market is now bullish and that any price drops indicate chances to purchase on the dip. According to Cramer, the fact that the market can advance because of positive earnings reports proves that it still has the potential to grow.
According to him, a bear market begins with an upswing in stock prices but quickly turns negative, leaving investors feeling humiliated about their investments. He also maintains that healthy profits amount to nothing more than reduced price targets.
However, according to several connected sources, the stock market saw gains on Tuesday, with the S&P 500 achieving its best performance for January since 2019, thanks to robust corporate results and inflation data that was less severe than anticipated.
In addition, the Nasdaq Composite had its highest January performance since the index was created in 2001.
Amid this report, the cryptocurrency community has taken to Twitter to express their surprise at Jim Cramer`s advice and statements. Some have replied to Lark Davis` tweet, some saying that the CNBC personality cannot keep the same opinion for long. A reporter says that Jim changes opinions every week.
As all this goes on, the overall cryptocurrency market is moving sideways as the stock market records gains. Concretely, Bitcoin, the largest cryptocurrency, has recorded gains, surging by 0.34% to hit $23,034, according to Coin 360 data.
Concurrently, Ethereum, the second largest cryptocurrency, is changing hands at $1,574, a 0.26 percent decline in the past 24 hours. Stablecoins have also seen increased volatility.