RATE Group | The ‘tide has turned’ against bitcoin
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The ‘tide has turned’ against bitcoin

14 Aug The ‘tide has turned’ against bitcoin

Posted at 19:42h in Bitcoin News by

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Bitcoin may be losing its spark as it cracks below $6,000, according to CNBC’s Jim Cramer.

“I think the tide has turned against it,” Cramer said Tuesday on CNBC’s “Squawk on the Street”. “I’m not saying its time has passed but there is a notion that the sun seems to be setting.”

Bullish sentiment has certainly faded since the cryptocurrency hit its all-time high near $20,000 in December. Bitcoin neared its lowest level of the year and was trading near $6,036 Tuesday, according to CoinDesk.

Cramer pointed to a recent interview with Udi Mokady, chairman and CEO of CyberArk, who highlighted some nefarious uses for the cryptocurrency.

“This thing has really become like an outlaw currency,” Cramer…

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