The CEO of the world's largest crypto exchange Binance commented on the expert's recommendation to urgently sell Bitcoins. Jim Cramer is known for his negative public statements regarding the first cryptocurrency and his advice to crypto investors to sell BTC at a loss.
On the day Bitcoin hit $17,000 on Jan. 8, Cramer told crypto enthusiasts that now is a great opportunity to get out of the market.
"This is a good chance to get out of crypto and reduce positions in Chinese stocks, since neither of them are trustworthy,"stated Jim Cramer
Binance CEO Changpeng Zhao on Saturday, January 14, ridiculed Cramer for predicting a fall in BTC was wrong. The businessman asked the skeptic to keep spreading Fear of Uncertainty and Doubt (FUD) messages about the crypto market.
"It looks very accurate right now. Cramer posted the message on January 9th, the day before Bitcoin surged from 16,000 to 20,000,"said Changpeng Zhao
While the crypto market was going through hard times, and prices continued to fall, Cramer assured investors that it was never too late to close a bad position. For example, in one of his speeches on CNBC in December.
And a week after the announcement, the BTC rate rose to $21,000. Now the crypto market is showing a positive trend. Since the beginning of the year, the market capitalization of all coins has increased by more than $200 billion and almost reached $1 trillion, although back in December it was below $790 million.