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CNBC pundit Jim Cramer urges selling coins: "Cut losses, never too late"

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CNBC pundit Jim Cramer urges selling coins: "Cut losses, never too late"

CNBC's famous host and commentator, Jim Cramer, is bearish on the cryptocurrency market as he urges investors to sell their holdings of cryptocurrencies on his show "Mad Money." Despite recently choking up while admitting he was overly bullish on Meta's stock price and being viewed by many as a contrarian indicator, he remains quite active.

Sell Now, Never Too Late

Jim Cramer told his viewers that it's not just about selling too late, the fact is that getting rid of a bad position in the investment portfolio is never too late. If investors hold so-called digital assets, they are holding onto bad positions.

He warned that investors should not hold speculative assets while the Federal Reserve continues to tighten liquidity, and specifically mentioned that coins like XRP, DOGE, ADA, MATIC, and others could potentially go to zero.

Being a Contrary Indicator

One of Jim Cramer's most famous recent incorrect predictions is Meta.

After reaching $380 in September last year, Meta has been on a downward trend, and Jim Cramer even emphasized on his show in June that there was no way for Meta's trend to go other than up.

However, in October, Meta released its financial report, and due to excessive losses in the metaverse division, the stock price further declined, currently even falling to $114, the level in 2017.

Jim Cramer also choked up on the show and apologized to investors and viewers.

At the beginning of the year, he also recommended buying Netflix NFLX, but by the end of January, it had dropped by over 30%, and the decline has now exceeded 50%.

Furthermore, in early October, a capital management institution submitted an application to the SEC for a "Reverse Jim Cramer ETF."