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Cryptocurrency Fear and Greed Index reaches "Extreme Greed," U.S. stock market pundit Jim Cramer: Bitcoin has peaked

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Cryptocurrency Fear and Greed Index reaches "Extreme Greed," U.S. stock market pundit Jim Cramer: Bitcoin has peaked

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Bitcoin Surges to $47,000, Jim Cramer: It Has Topped Out

Bitcoin surged to as high as $47,248 this morning, with a 7% increase in the past 24 hours, making it the only cryptocurrency among the top ten by market cap to show a 7-day upward trend and hitting a new high since April last year.

Bitcoin Hits $47K, Grayscale GBTC Trading Volume Nears $500 Million

Just about a week ago, CNBC host Jim Cramer highly praised Bitcoin as a "technological marvel" that is "difficult to suppress."

This has been widely seen by the community as a bullish sentiment towards Bitcoin.

Jim Cramer Calls for Bitcoin Bull Run Again, Will Bitcoin Spot ETF Benefit from It?

However, on January 8th, Jim Cramer expressed on his show that he believes Bitcoin's price has peaked, saying:

Let's stop the noise. If you want Bitcoin, buy Bitcoin, but I think Bitcoin has topped out.

Crypto Greed Index Skyrockets

Meanwhile, the crypto data platform CoinGecko tweeted that the Crypto Fear and Greed Index has risen from "greed" to "extreme greed."

However, data from another platform CoinMarketCap shows that the market is currently at greed levels, having reached extreme greed from December 6th to December 10th last year when BTC surpassed $40,000 for the first time and hit $45,000, pulling back to $40,150 after the extreme greed phase.

In fact, Jim Cramer had already called for a bullish trend on BTC back in November last year:

Contrary Indicator Jim Cramer Bullish on Bitcoin! Where Is the Resistance Above BTC?