Jim Cramer: This year will be depressing for the crypto industry

According to CNBC columnist and Mad Money host Jim Cramer, the community should not expect major crypto booms in 2023 as the industry will be dominated by depressive sentiment.

Jim Cramer shared with his Twitter followers on the assumption that the skepticism in the crypto community will prevent digital assets from showing any meaningful results in 2023. Kramer believes that recent events have significantly influenced investor preferences and their general interest in crypto assets.

“I am predicting another depressing year for crypto and wondering how many millions of people are still involved,” Kramer tweeted.

Earlier, the PricePrediction cryptoasset monitoring service, using artificial intelligence, predicted the bitcoin rate at the beginning of 2023. According to the algorithms, in a month Bitcoin will be trading at $15,532. This is about 7% lower than the current value of BTC. In general, it is expected that during January the rate of the first cryptocurrency will decrease. Recall that BTC ended 2022 on a minor note – the coin lost more than 70% of the 2021 high.

Crypto market experts largely agree with Cramer’s outlook. CoinLedger CEO David Kemmerer expects further correction in BTC in the first half of the year due to the collapse of FTX. The head of BitcoinMiningSoftware.com, Stefan Ristic, is also looking forward to a depressive year for the cryptocurrency industry.

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