Jim “Cooler” Cramer, the host of US network CNBC’s Mad Money program, has a bit of a rep for his not-always-on-the-money calls. Whether that’s fair or not, he’s now telling crypto investors to dump.

We wouldn’t want to speculate too hard, but maybe he’s onto something this time, in a short-term sense at least? It probably doesn’t take a highly paid, as-seen-on-TV financial analyst to see the blood-stained writing on Septembear’s wall of history…

Bitcoin monthly returns. Source: CoinGlass

Not that we’d recommend selling out of crypto (if you’re already invested) at a stage that’s a hell of a lot closer to the bottom than it is to the top. Also, October’s form guide doesn’t look so bad…

(Mandatory disclaimer: no info proffered by Coinhead staff should be taken as financial advice. Like, ever.)

Here’s what Cramer’s been saying just lately then, referring to the recent Jackson Hole speech from Fed boss Jerome Powell…

“Look, Fed chief Jay Powell told us that we need to stop doing stupid things with our money. That was the thrust of his speech on Friday,” said the TV host, adding:

“This is what it looks like when the Fed gets serious. What matters is that we just have to get through it intact. Don’t get memed. Don’t get SPAC’d. Don’t get crypto’d. And you’ll get through this thicket and find yourself in a much better time when we are sufficiently oversold for a huge bounce.”

 

“Of course, [Powell will] also hurt some good investments in the process,” continued Cramer… “but we won’t see the end of this decline until we get a giant washout of all things that are speculative.”

And yet, Cramer clearly has a, let’s call it “fluid” mindest when it comes to the subject of cryptocurrencies. The guy’s a former hedge fund manager and trader at heart, after all.

A few short months ago, Cramer was telling the world Ethereum is “terrific” and that he’s a “believer”, while acknowledging their speculative nature.

He later described crypto more broadly like this:

 

Ah well, Cramer’s no HODLer, that much is clear. And he’s allowed to change his mind, of course, even on an asset class that apparently helped him pay off his mortgage last year. Maybe he’s playing this tune reasonably well after all, then.

 

Read MoreBitcoinCryptocurrencyEthereum

You might be interested in