Elon Musk Reacts to Jim Cramer 'Causing' Bitcoin (BTC) Price Reversal

U.Today - The price of the largest cryptocurrency, Bitcoin (BTC), recently enjoyed a remarkable rally that pushed its price as high as $99,860 on major U.S. exchange Coinbase (NASDAQ:COIN ). However, the euphoria may be short-lived as financial expert and popular TV host Jim Cramer has stepped into the picture with a rather bullish attitude.

Cramer is no stranger to making statements that often defy prevailing trends and shatter expectations. His influence has grown so much that it has spawned the "Inverse Cramer" phenomenon, where investors do the opposite of his advice. As often as not, he has taken to live television to share his thoughts as the host of CNBC's Mad Money.

Thus, Cramer reportedly said that Bitcoin is a winner right now and that you should own the cryptocurrency. After that, the price of BTC made a U-turn and found itself at $97,215, where it found a local bottom for now.

"Too powerful"Interestingly, the segment with Cramer's latest impact on Bitcoin had such a ripple effect that it caught the attention of Elon Musk, entrepreneur, billionaire and owner of SpaceX, X and Tesla (NASDAQ:TSLA ), who also acknowledged the power of Cramer's endorsement of anything.

In a short but eloquent reaction with a laughing face and 100% emojis, Musk revealed what he thinks about the latest occurrence of Jim Cramer's curse.

For now, Bitcoin's next move remains uncertain, but the incident serves as a reminder of how outside voices and investor sentiment can shape the cryptocurrency's price trajectory.

Source: Investing.com