Close
In a mocking response to Jim Cramer’s warning, former Binance CEO CZ announced that Altcoin season has started. We will examine CZ’s analysis of the current state of the market in this Pooyan Music post.
Former Binance CEO Changpeng Zhao, better known as CZ, took to social media to announce the start of an “altcoin season” in response to CNBC host Jim Cramer’s view on altcoins being bearish.
CZ’s statement appears to mock Cramer’s recent advice to investors. Cramer advised buying Bitcoin while being cautious about altcoins.
Many altcoins have lagged behind Bitcoin’s recent gains, according to the latest data from Coin Gecko.
Ethereum (ETH), the second largest cryptocurrency by market capitalization, has seen a slight gain of 4.6% over the past week and is trading at $2,248.02.
Binance’s own token, BNB, posted a marginal gain of 0.1% at a current price of $229.63.
Other major altcoins such as XRP, Solana (SOL), and Cardano (ADA) have posted minor gains, but none have come close to Bitcoin’s 5.7% gain over the same time frame.
Dogecoin (DOGE), one of the most popular crypto altcoins, is the only altcoin to outperform the crypto king in the last 24 hours.
The “Mad Money” host has often been at odds with the crypto community. Especially with his recent advice to avoid altcoins in favor of Bitcoin. This stance has led to ridicule from some crypto enthusiasts, with some even trading against his predictions.
However, it’s important to acknowledge that Cramer had previously warned of potential problems for Binance, a prediction that appears to have been borne out by recent events.
A few days ago, CZ stepped down as CEO of Binance, the world’s largest cryptocurrency exchange, amid allegations of US anti-money laundering regulations.
