Bitcoin maxi’s Samson Mao told investors to ignore Jim Cramer’s investor advice this week to look at the June jobs report as the only market moving data.
Cramer said that US Treasury Secretary Janet Yellen’s visit to China may not move markets as strongly as some believe. The same applies to the international OPEC symposium that concluded in Austria yesterday.
Samson Mao: Investors don’t listen to Jim Cramer’s advice
According to the host of Mad Money, the Yellen talks are unlikely to have major results, while the OPEC talks are unlikely to have much impact while Russia is fighting Ukraine.
Kramer He said yesterday,
“Much of what is considered wisdom on Wall Street makes absolutely no sense.”
He added that the only voice worth listening to is that of Federal Reserve Chairman Jerome Powell. Powell said that a cold economy will eventually lead to fewer jobs in June.
However, Bitcoin’s Samson Mow on January 3rd He said To ignore Kramer’s advice. He cited Cramer’s advice to get out of the market when bitcoin hit $17,000 in January in light of bitcoin’s 78% rally to date. This year, the asset has outperformed several stock market favorites, including gold, the S&P 500, and the Nikkei 225.
In March, Cramer warned investors that bitcoin is a “strange animal” and subject to manipulation.
Discover here the best places to buy Bitcoin.
Mao also said he didn’t think many people invested on the advice of Cramer and skeptics like Black Swan author Nicholas Taleb. Instead, they use a bearish view to develop a balanced view of the cryptocurrency. Taleb has previously said that Bitcoin is not suitable for payments, financial products, or illicit transactions.
The US Nonfarm Payrolls report for June will be released at 8:30 PM ET later today.
Bitcoin Bull Mow Predicts Bitcoin’s Influence in Politics Growing
Mao praised presidential candidate Robert F. Kennedy Jr.’s support for Bitcoin. He predicts that bitcoin will remain a “major issue” in politics and will become increasingly important in election campaigns.
Kennedy criticizes FedNow’s system of interbank settlements. He has previously argued that FedNow is paving the way for the Federal Reserve to roll out a central bank digital currency that will undermine personal freedom.
Florida Governor Ron DeSantis recently introduced a bill to prevent residents from being forced to use a national CBDC.
Yesterday, the Federal Reserve Bank of New York confirmed successful tests of its wholesale settlement service for banks. However, the state bank said this would not automatically result in a central bank digital currency.
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