Jim Cramer says bull market may return soon but full recovery for Bitcoin years off

👋 Want to work with us? CryptoSlate has a small number of positions!

CNBC Flirt Host Jim Cramer, if 6 things Occur.

Anyway, bullish sentiment is not enough for Bitcoin to reach or exceed its old highs and can take years to recover.

Kramer analyzed the current charts and suggested that investors wait for the possibility of Bull Run to disappear.he Said:

“chart […] Even if you haven’t seen Bitcoin revisit its old highs for years or even decades, it suggests that Bitcoin could have a great bailout rally over the next few months.

I can’t buy cryptocurrencies here, but if you still own some and want to go out, from now on, if you’re depressed again, you’re for going out I’m sure you might get a better price. “

Six signs of Brulan

According to Cramer, investors can look at the six signs to see if a temporary bull market is coming.

This is a list of Cramers that need to happen, not necessarily in this order.

1. Oil prices should be stable at a level that is favorable to producers and the general public.
2. The rise in food prices must be stopped.
3. The unemployment rate should reach 5% in a few quarters. In this way, demand is limited and the economy has room to fight inflation.
4. Speculative transactions should be kept to a minimum.
5. Large companies need to merge with smaller “junky” new companies
6. And most importantly, the forward-down line must be improved. Kramer emphasizes the importance of this by saying:

“This is a very important gauge that measures the width of the entire market, that is, the number of stocks that are rising and the number of stocks that are falling. Seeing that it is steadily rising, it is certain of execution. It’s a sign. “

When all these conditions are met, bearish investors will emerge, interest rates will fall, and the market will be on the rise.

Bitcoin takes years to heal

Kramer dealt with Demark’s A 13-step indicator of his Bitcoin analysis said it is unlikely that Bitcoin will soon return to its old highs.

Bitcoin has fallen the most sharply since 2020, with a closing-based fall of more than 50%. Cramer quoted DeMark as saying that this kind of sharp decline causes structural damage to assets and is difficult to repair.

He said:

“In the long run, DeMark states that it can take years, or even decades, for Bitcoin to approach its old highs. You may never see it again.”

Kramer said DeMark has points, but that doesn’t mean Bitcoin can’t bounce.