Prices for Ripple (XRP), Cardano (ADA), Polygon (MATIC) and Dogecoin (DOGE) are set for further declines and may drop to zero. With such a warning spoke former hedge fund manager Cramer & Co. and Mad Money show host Jim Kramer.
The expert urged to get rid of crypto assets due to the “collapse coming in 2023.” He considers it dangerous to remain in speculative assets amid tightening Fed monetary policy.
“You can’t just beat yourself up and say, ‘Hey, it’s too late to sell.’ The truth is, it’s never too late to sell a terrible position.” the expert advised.
Cramer emphasized that investors should not be fooled by the inflated market caps of some coins.
The host of the show Mad Money also criticized Tether (USDT).
“There is still an entire industry of ‘crypto accelerators’ out there desperately trying to keep all of these things up in the air. Not too different from what happened to bad stocks during the dot-com crash.” he explained.
Recall that in August Kramer saw in the actions of the Fed, a signal to abandon cryptocurrencies.
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