Jim Cramer Favors Gold as 24-hour Crypto Liquidations hit $1 billion

Quick Summary:

In his opinion, gold has the potential to perform better as an inflation hedge compared to Bitcoin, which he says could experience a short-lived bounce before continuing downstream.

Jim Cramer, the host of Mad Money on CNBC, has asked investors to be cautious of the ongoing crypto crash.

As risk aversion surged, Bitcoin and other cryptocurrencies were heavily sold, resulting in a dramatic 18% price drop below $50,000.

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Article Details

Author / Journalist: John Isige

Category: Crypto

Markets: IndiaJapan

Topics: Price Analysis Bitcoin Price Analysis Gold

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-05 @ 13:24:14 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 479 words

Reading Time: 3 minutes read

Sentences: 46 lines

Sentence Length: 11 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 21934121

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About CoinGape

Main Topics: Crypto

Official Website: coingape.com

Update Frequency: 19 posts per day

Year Established: 2017

Headquarters: India

News Last Updated: 10 hours ago

Coverage Areas: India

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