“You know what, if you won the lottery – Yes, I’m gonna say it: 5% in Bitcoin,” Cramer said Thursday night on his Mad Money program. His advice came with a few caveats: Don’t buy it all at once, don’t buy it on the weekend. “Crypto could be incredibly volatile,” he said on a day when BTC tanked 13%.
According to data fetched by CryptoQuant, a South Korea-based blockchain analytics firm, Bitcoin miners at Chinese mining firm F2pool started the massive sell-off that crashed the BTC/USD exchange rate by almost 20 percent in just less than 24 hours.
CryptoQuant deduced the mining pool’s act as the main catalyst that slumped its price from $35,498 to $28,732 in just 24 hours.
Meanwhile, New York-based cryptocurrency investment firm Grayscale Investments purchased more than $600 m