These Altcoins Might Hit “ZERO”, Sell Your Crypto Warns Jim Carmer

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The glob­al cryp­to mar­ket fell on Tues­day after a brief come­back, as con­cerns about infla­tion con­tin­ue to weigh on riski­er invest­ments. Despite the dip, Bit­coin held above $17,000 and Ethereum remained above $1,250. Investors are close­ly watch­ing US macro­eco­nom­ic data for hints on inter­est rate increases

Only Lite­coin, Shi­na Inu, and Tron were trad­ing high­er. Lite­coin rose by 4% while Polka­dot fell by 3%. Ethereum, BNB, Doge­coin, and Poly­gon dropped 2%.

The world­wide cryp­tocur­ren­cy mar­ket cap gained 2% in the past 24 hours, to $866 bil­lion. Trad­ing vol­ume rose 9% to $33.10 billion.

2022 was a dif­fi­cult year for the cryp­tocur­ren­cy mar­ket, with investors like Jim Cramer advis­ing to sell bit­coins. Cramer warned investors to dump cryp­tocur­ren­cies before 2023, stat­ing that it’s nev­er a good idea to sell at a high price. With 2023 on the hori­zon, ana­lysts are fore­cast­ing whether the cryp­to mar­ket is des­tined for a mas­sive ral­ly or a “zero”. 

‘It’s Never too Late to Sell’ 

Using micro­eco­nom­ic con­sid­er­a­tions, the ana­lyst pre­dict­ed the path of the cryp­to mar­ket in 2023. After FTX bank­rupt­cy, atten­tion has turned to the cryp­to indus­try, lead­ing to sig­nif­i­cant loss­es in a mar­ket where inter­est rate hikes have impact­ed dig­i­tal assets.

Accord­ing to the ana­lyst, dig­i­tal assets are spec­u­la­tive coins and Sam Bankman-Fried is a con artist. He point­ed out that Bankman-Fried didn’t keep any records, which is pro­hib­it­ed, and ques­tioned why the US attor­ney would believe him.

Giv­en the uncer­tain­ty, the ana­lyst advis­es investors to sell their dig­i­tal assets as soon as pos­si­ble. How­ev­er, he also notes that increas­ing inter­est rates could poten­tial­ly ben­e­fit the cryp­to mar­ket. A coin’s inflat­ed mar­ket cap shouldn’t fool investors, he says.

Which Assets Shall Be The Most Impacted By A Recession?

To con­clude, Cramer men­tioned sev­er­al promi­nent cryp­tocur­ren­cies and implied that they would fail dur­ing the forth­com­ing eco­nom­ic down­turn. He pre­dict­ed that the prices of Rip­ple (XRP), Car­dano (ADA), Poly­gon (MATIC), and Doge­coin (DOGE) would con­tin­ue to drop and even reach $0.

He fur­ther explained, “There’s still a whole indus­try of cryp­to boost­ers try­ing des­per­ate­ly to keep all of these things up in the air – not too dif­fer­ent from what hap­pened with bad stocks dur­ing the dot-com col­lapse,” refer­ring to Teth­er, a so-called sta­ble­coin that is rumored to be pegged to the dol­lar, and its $65 bil­lion mar­ket cap.

How­ev­er, despite the bear­ish out­look, Bit­coin and oth­er key alt­coins have remained sta­ble through­out the cryp­to win­ter, leav­ing the over­all analy­sis uncer­tain. BTC and ETH have shown recent improve­ments, and dig­i­tal assets are still seen as a good way to diver­si­fy from gold.

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