CNBC’s Mad Money host, Jim Cramer, argued that there could be a valuable increase in the price of the leading altcoin Ethereum (ETH). The server predicts a 40% rally, but the crypto community is cautious, especially after the Netflix assumption, due to its recent losses that caused it to drop 71%.
Jim Cramer expects 40% boom in Ethereum, but the community is concerned
In his latest “Girl Talk Stocks” post, Mad Money host Jim Cramer will launch Ethereum in the future. also predicted a growth of 35% and said that he was “believer” in this regard. However, despite such an optimistic outlook on the cryptocurrency market, and Ethereum in particular, the community is hesitant to Cramer’s bull headlines.
The crypto community’s excitement is based on Cramer’s posts quickly before his Netflix stocks lost 70% of their price. In fact, some members of the Bitcoin community have called Cramer’s invitations “Cramer’s curse.”
Cramer According to the daily chart of Ethereum, the last thing the altcoin market needs
, the chairman altcoin has been trying to recover and has been consolidating around local reinforcement for the past four days, which means little to raise ETH. It demonstrates purchasing power. According to the data provided by Santiment, there is an obvious correlation with the S&P 500 index. The price of ETH witnessed a 3% increase after a 1.8% drop in the S&P 500 index statistics. As reported by
Kriptokoin.com , on April 29, Santiment noted:
+1.8% on SP500 With the help of one day, Ethereum climbed above $2,930 with its tight correlation with equity markets.
As the chart above shows, the dominant buyers of ETH are whales, just as They responded to the rise by buying more ETH. The number of whale processes exceeding $100,000 increased significantly during the day. Approximately 1,451 such processes were recorded in a 4-hour period. Santiment states that the spike indicates that key stakeholders are noticing the price increase. Also, according to IntoTheBlock, 70% of ETH HODLers witnessed huge benefits. At the same time, ETH’s ecosystem saw an increase in the number of unique interactions.
Former BitMex CEO Arthur Hayes is raising a red flag on the contrary Cramer’s considering this interest. Interestingly, the stock market looks poised for a major crash by 2022 as the Fed tightens monetary policy to deal with inflation. According to analysts, this could have a bearish effect on the largest altcoin.