Mad Money’s Jim Cramer Turns Bullish on Bitcoin: Is It Time to Sell?

Jim Cramer, host of CNBC's “Mad Money,” has changed his stance on Bitcoin, defending it as it hits an 18-month high.

This change of heart comes after a year in which Cramer strongly advised against Bitcoin. As a result, investors and market observers are pondering the implications of his newfound optimism.

Cramer turns bullish on BTC

Mad Money's Jim Cramer, known for his dynamic and often fluctuating views on financial products, stated that he had previously believed that "money had been made" in Bitcoin. However, he now admits that this judgment was premature.

"Look, if you like Bitcoin, buy bitcoins. That has always been my opinion. And for a while I liked it and decided there was money to be made, but I was premature,” Cramer said.

His renewed support for Bitcoin aligns with the cryptocurrency's recent rise. BTC Soared Above $38,000 for the first time in a year and a half, marking a 10% increase last month. Similarly, Ethereum has seen a 17% increasereaching its own 18-month high.

Read more: How to buy Bitcoin (BTC) and everything you need to know

The crypto and financial communities, often critical of Cramer's changing views, have raised eyebrows at this latest turn. Some investors humorously suggest that taking a stance contrary to Cramer's advice could be a smart financial move.

This sentiment even led to proposals of “Inverse Cramer ETF” to the SEC, which based the investments against Cramer's guidelines. With Cramer renewed confidence in BitcoinSome social media voices in the cryptocurrency market speculate that this could signal a possible slowdown, which could erase recent gains.

Is it time to sell Bitcoin?

While some suggest that it is time to sell bitcoins After Cramer's endorsement, several crypto experts disagree. For example, Tone Vays, a veteran of the trade, sees There is no immediate resistance for Bitcoin price..

“I don't see any resistance. [Still,] According to Fibonacci levels, we have resistance at $48,000 to $49,000, which is interesting because it is just below that round number of $50,000. “I know I've been saying that $41,000 to $42,000 is a reversal area, but I think we can get through it,” Vays said.

Likewise, Ali Martínez, global news director at BeInCrypto, noted that Bitcoin built strong support barrier between $25,000 and $30,000. Like Vays, Martinez emphasized that the only critical resistance levels are now at $38,440 and $47,360.

Jacob Canfield, a renowned cryptocurrency trader, also shared a similar opinionsuggesting that Bitcoin, Ethereum and altcoins have more room to rise before the market faces a significant correction.

“My manual: first BTC at $48,700. Then ETH at $3,350. Then, altcoins celebrate for 14 days. Then sell everything for USD. Buy the 40% drop in Bitcoin and other alternatives,” Canfield said.

Read more: How to Prepare for a Bitcoin ETF: A Step-by-Step Approach

Finally, Thomas Lee, head of research at Fundstrat, interprets current trends as Positive signs for December.indicating a “risk-on” environment.

“The positive seasonal ones are working and that is a risk for the environment. I think the movement of Bitcoin, which reached a new high for the year, is another sign of risk. “I think for now everything is good signs for December,” Lee added.

Despite Cramer's latest endorsement, Bitcoin may have a better chance of rising ahead of the next major price correction.