The turmoil in the cryptocurrency market has already shaken numerous people. Many people were shocked by the recent market turmoil that caused Bitcoin to fall below $20,000. Jim Cramer, the host of CNBC’s Mad Money, has been outspoken about his love-hate relationship with cryptocurrency. Cramer brought out the latter, advising the community to avoid speculative investments like cryptocurrency. The CNBC host cautioned investors to avoid the sector while reeling from it. He continued by relating it to the Federal Reserve’s current tightening cycle. The Fed is telling you to sell the cryptos and the nfts and the ipos and the SPACs before they take your life's savings. No more nonsense!!! — Jim Cramer (@jimcramer) August 30, 2022 Jerome Powell, the chairman of the Federal Reserve, stated last week that they had made efforts to lower inflation. He warned American homes and companies that the procedure would cause “some pain” in the interim. He added, “Look, Fed chief Jay Powell told us we must stop doing stupid things with our money. That was the thrust of his speech on Friday.” Jim Cramer Advises Investors Cramer pointed out that crypto investments would experience pain in addition to these firms and people. But he also thought that until there is a massive washout of anything speculative, the world won’t “see the end of this downturn.” Although Cramer emphasized cryptocurrencies, he clarified that it wasn’t just about them. He ad...
