CNBC host Jim Cramer thinks crypto investors should immediately unload their positions before prices drop even lower.
The television personality says investors still have time to sell their holdings and shouldn’t be tricked by the market caps of crypto assets, according to a CNBC report.
“You can’t just beat yourself up and say, ‘hey, it’s too late to sell.’ The truth is, it’s never too late to sell an awful position, and that’s what you have if you own these so-called digital assets.”
Cramer specifically mentions that XRP, the smart contract platform Cardano (ADA), the memecoin Dogecoin (DOGE), and the blockchain scaling solution Polygon (MATIC) all could plummet in price further, even all the way to zero.
He’s also suspicious of the largest stablecoin, Tether (USDT).
“Tether, a so-called stablecoin that’s supposed to be kinda-sorta pegged to the dollar, still has a $65 billion market cap… There’s still a whole industry of crypto boosters trying desperately to keep all of these things up in the air – not too different from what happened with bad stocks during the dot-com collapse.”
Tether is trading at $1.00 at time of writing, though it briefly dropped to around $0.978 in early November, amid the collapse of the now-bankrupt crypto exchange FTX.Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
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