CNBC Analyst: “I believe in Bitcoin and Ethereum”
CNBC analyst Jim Cramer believes that Bitcoin and Ethereum are the best long-term investment vehicles. However, it does not fail to warn investors about cryptos. Cramer warns that cryptos are speculative assets and that investors shouldn’t make up more than 5 percent of their portfolio.
Bitcoin and the cryptocurrency market in general have been wildly uncertain and volatile for the past few weeks. While bitcoin traded in the $29,000 to $31,500 range, this period has been a nightmare for investors.
CNBC analyst Jim Cramer said he “believes” in cryptocurrencies and recommends buying BTC and ETH. But he said investors should consider it a speculative investment and allocate no more than 5 percent of their portfolio.
A believer in crypto, Cramer sees important long-term value in digital assets. He said cryptos are decentralized and timeless, and he believes they will see more adoption in the long run. He also thinks Bitcoin and Ethereum are successful over the long term and “are the ones that seem the most legitimate.”
Short term cryptos can be risky
With the rapid growth of the crypto market, crypto trading has become very prominent nowadays. People are investing in crypto for the short-term, taking advantage of momentum swings in crypto prices. However, Cramer warned of some inherent risks that come with crypto trading.
Cramer warned investors that cryptos are speculative assets, saying they could suffer short-term losses. Also, investors were reminded that past performance is no guarantee of future returns
. This article was originally published on Crypto News