Jim Cramer Shifts to Bullish Outlook for Bitcoin – Will the Inverse Cramer Curse Still Play Out?
The “inverse Cramer curse” is a term sometimes used to describe a situation in which, following CNBC stock picker Jim Cramer’s endorsement of a specific stock, that stock tends to significantly underperform its peers. While it was widely acknowledged that his opinions are no guarantee of future success, many traders and investors paid close attention to his stock picks and watched their subsequent performance.
Whether the inverse Cramer curse will hold true with Cramer’s more recent shift to a bullish outlook for Bitcoin is yet to be seen; however, it should not be dismissed without consideration. The cryptocurrency market is still relatively new and highly speculative, so there is likely to be a great deal of volatility. With Cramer’s reputation on the line, any success associated with his endorsement of Bitcoin could help to bolster his credibility among investors. On the other hand, any failure could result in more discerning investors taking a dim view of Cramer’s recommendations in the future. In addition, the adage “Past performance is no guarantee of future results” rings especially true when it comes to investing in the cryptocurrency markets. Only time will tell if Cramer’s bullish outlook for Bitcoin will pay off.