• Jim Cramer, the host of “Mad Money” on CNBC, thinks bitcoin will shrivel up and die soon.
• Bitcoin experienced a bearish year in 2022, losing over 70% of its value from its all-time high in 2021.
• Despite its vulnerability to price swings, bitcoin has managed to stay in the game and is currently trading for just shy of $28,000 – nearly doubling where it was at the end of 2020.
Jim Cramer’s Prediction
Jim Cramer – the famed host of “Mad Money” on CNBC – has commented that bitcoin has no real use case, and he thinks the biggest digital currency by market cap will dry up faster than a riverbed.
Bitcoin’s Bearish Year
The currency was depleted of all its resources and energy during 2022, which is arguably the most bearish year on record for bitcoin. During that time, the asset – which had risen to a new all-time high of about $68,000 per unit in November of 2021 – fell to the mid-$16K range roughly 12 months later, meaning the currency lost well over 70 percent of its value. As a leader of the crypto space,
