PakGazette – Financial commentator and Mad Money host Jim Cramer posted a tweet about the US government shutdown that is more than likely happening this Saturday.
It is expected to be due to the newly elected US president disapproving the 2025 funding bill, which includes salary increases and multiple benefits for Democratic Party congressmen. Tech mogul and DOGE head Elon Musk also paid attention to that bill and spoke out against it on X.
Jim Cramer says “buy fear, don’t sell it”
The president insists that Congress pass the bill without the aforementioned additional spending and wage increases, but which would allow the government to raise the national debt limit for the time being. If this bill does not pass, the government will face a temporary shutdown this week.
Jim Cramer tweeted that he had studied every government shutdown “since the days of Bill Clinton” to determine how best to react to them in terms of investment. Therefore, Cramer said, “You always had to BUY fear, not sell it.”
Crypto Community Responds to Cramer’s Call
The crypto community responded to Jim Cramer’s tweet with a wave of comments as they frequently do, especially when Cramer talks about. It has been observed that in 90% of cases, the market reacts to the tweets of the Mad Money host, moving completely in the opposite direction. Therefore, when Cramer predicts that the market or certain assets, including Bitcoin, will fall, everything rises, and vice versa.
Now that Cramer has tweeted about “buying fear” and not selling it, many commentators, including cryptocurrency fans, have started tweeting that it is definitely worth selling, not buying.
In the last 24 hours, the world’s largest cryptocurrency, Bitcoin, has lost much of the gains accumulated over the last month. Bitcoin fell almost 10%, falling from the $102,450 area and landing at $92,951. At this point, BTC has recovered a bit and is changing hands at $95,200. The key reason for Bitcoin’s rapid and deep decline was Federal Reserve Chief Jerome Powell’s recent statement that the Fed plans to reduce the high pace of interest rate cuts next year. Instead of the 100 basis point cut expected by the crypto community, the Federal Reserve plans to make a 25 basis point cut in early 2025.
