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Bitcoin has experienced a decline, slipping below the $40,000 mark shortly after nearing it.
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Interestingly, this drop aligns with Jim Cramer’s optimistic remarks about Twitter.
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The occurrence fuels speculation about the “Cramer effect,” suggesting a pattern where Cramer’s endorsements may have a contrary impact on Bitcoin’s price.
NEW YORK – Bitcoin’s latest failure to firmly breach the symbolic $40,000 threshold coincided closely with an enthusiastic price call from CNBC host Jim Cramer – adding to suspicion of the so-called “Cramer effect” influencing crypto markets.
At the time of Cramer’s pronouncement on Twitter this Tuesday that Bitcoin seemed strong enough to leave old price floors behind, BTC hovered solidly around $40,000 after approaching the mark earlier.
Yet within a day, Bitcoin faced selling pressure again, tumbling under $39,000 in a snap downward correction seemingly triggered by Cramer’s
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