CNBC host warns of the dangers of meme cryptocurrencies and altcoins
Jim Cramer is concerned about the Fed’s continued rate hike
02.09.2022 - 12:15
414
2 min
0
What’s new? CNBC host Jim Cramer has advised investors to avoid meme cryptocurrencies and altcoins after the US Federal Reserve System (Fed) announced further interest rate hikes. In his new program called Mad Money, Cramer expressed concerns about Dogecoin (DOGE) and Shiba Inu (SHIB). He also advised being wary of Ethereum scaling solutions such as Polygon (MATIC) and Optimism (OP), as well as tokens of the blockchain like Polkadot (DOT), Avalanche (AVAX), and Cosmos (ATOM).
What else did Cramer add? He also cautioned against buying shares in special-purpose acquisition companies (SPACs), initial public offerings (IPOs), and a host of other securities.
According to the CNBC host, cryptocurrencies have not lived up to his expectations, prompting him to change his stance on digital assets again.
“I think it is time we started questioning the fundamentals of crypto […] I’m at least big enough to admit that I was wrong about crypto. I wish the promoters would do the same,” Cramer noted.
Earlier, David Kelly, the chief global strategist at JPMorgan, a financial holding company, called for selling cryptocurrencies because of a risk of a recession in the United States and increased volatility in markets. He recommended “steering clear” of bitcoin and large-cap tech stocks.
Useful material?
Telegram 
Twitter Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$98 371
BTC
+0.9%
-
Ethereum
$3 339.59
ETH
+6.63%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.39
XRP
+23.94%
-
Dogecoin
$0.387011
DOGE
+1.28%
-
Cardano
$0.860251
ADA
+10.78%
-
Bitcoin Cash
$485.08
BCH
-5.54%
-
Polkadot
$6.04
DOT
+7.64%
-
Stellar XLM
$0.283452
XLM
+17.17%
-
Litecoin
$90.03
LTC
+0.95%