Cramer's tweet comes while cryptocurrency market is experiencing increased volatility
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Bitcoin fell to $49,050 at one point, its lowest level and the first time below $50,000 since February, after trading around $70,000 a week earlier.The developments reflect a broader market sell-off that began last week, when a weaker-than-expected July jobs report fueled investor concerns about a recession. Bitcoin has dropped over 18% since Saturday.
Ethereum's losses were significantly greater. The cryptocurrency asset fell 17% to $2,259, extending its three-day loss to 24% and wiping out its 2024 gain. The Nasdaq Composite has undergone a decline; Japanese stocks entered a bear market Monday after falling more than 12% overnight, the largest one-day drop since 1987., given his previous history with cryptocurrencies, in which he frequently expressed skepticism on the asset class.
Some also held it as a contrarian indicator, believing that when mainstream financial commentators express skepticism, it could signal a buying opportunity.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.
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