The analyst is confident that bitcoin will fall by almost half

Jim Cramer, the host of the financial TV show Mad Money, said that bitcoin will fall to $ 12,000, which is the price at which the Cryptocurrency’s value began to rise. Kramer said this on the Squawk Box show.

«I think it goes to $ 12,000, where it was before this whole fiasco began,» says @jimcramer on #bitcoin $BTC. pic.twitter.com/7LpOV44z6k

— Squawk Box (@SquawkCNBC) June 17, 2022

«I believe that analysts should take a different stance and assure investors that everything is fine and prices will stabilize. This usually happens when the bitcoin rate is on the brink and we shouldn’t let it fall even lower,» Jim Kramer shared his opinion.

Jeffrey Gundlach, CEO of DoubleLine Capital LP, has similar predictions about the value of bitcoin, saying that given the unstable market situation, bitcoin could fall to $ 10,000. Gundlach belongs to the so-called bitcoin skeptic camp and believes that cryptocurrency is similar to a casino: most investors suffer losses and only a small part makes a profit.