Mad Money Host Jim Cramer Argues That the Tide is Turning Against Bitcoin

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Jim Cramer, host of CNBC’s Mad Money, argued that Bitcoin may have reached its peak. His comments come as the cryptocurrency market dropped below $200 billion in value, with Bitcoin struggling with the $6,000 mark. In June 2018, the former hedge fund manager said the leading virtual currency could eventually be worth $1 million one day. Jim Cramer Expects Price of Bitcoin to Stabilize At $800-$1,000 The cryptocurrency market is signaling a risk-off sentiment as market capitalization breaks below $200 billion and reverses gains obtained in late 2017. Adding to the negative sentiment is Bitcoin’s dominance, climbing above 50%, as traders hesitate to invest in altcoins. With Bitcoin’s market capitalization heading down to $100 billion, Cramer took the opportunity to, indirectly, retract his bullish outlook on CNBC’s “Squawk on the Street“. “I think the tide has turned against it […] I’m not saying its time has passed but there