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Crypto trader doubles portfolio in a month by betting against Jim Cramer

Published on

December 23, 2022
Read Time:2 Minute, 8 Second

Famed Twitter crypto dealer AIgod put a smile on the neighborhood's face after asserting that he had doubled his "Inverse Cramer" portfolio in only a month by "merely" beating Mad Cash moderator from CNBC, Jim Cramer, acted inversely.

In his most up-to-date tweet on Aug. 22, the dealer, who rose to fame on Twitter for forestalling the collapse of Terra Luna earlier this 12 months, mentioned he had simply gone lengthy after a bearish tweet on his inverse Jim Cramer account. Cramer modified place on the state of the Nasdaq.

Was a bit late however rotated lengthy on the Cramer account, Jim bearish on the Nasdaq is an effective indicator for crypto

Commerce decentralized derivatives right here: https://t.co/z7XBNybcRr (Should you use leverage, achieve this responsibly) https://t.co/yr1iDSzROf pic.twitter.com/u9QdlbIFcb

— Algod (@AlgodTrading) August 23, 2022

Earlier the identical day, Algod introduced that the Cramer inverse account had "formally doubled" for the primary time, reaching a internet value of $101,440.71, versus a beginning Quantity of $51,470.56 on July 19 when he used 35 ETH as collateral.

In keeping with its newest tweet, AIgod's inverse account exhibits a internet value of $97,007.62, which is a whopping 88.47% return on its preliminary funding. Nonetheless, Algod reiterates that this isn't "monetary recommendation".

Jim Cramer is a former hedge fund supervisor who hosts Mad Cash on CNBC. He's well-known within the monetary world, however some within the crypto neighborhood consider it is likely to be wiser to guess towards his crypto and inventory picks.

The "Inverse Cramer" has turn into one thing of a meme after a motion started on Reddit and Twitter selling a easy concept. When Cramer says to promote a inventory — purchase it. If he recommends shopping for a inventory – promote it.

There's additionally a Inverse Cramer ETF Twitter account with over 84,900 followers that "follows Jim Cramer's inventory picks so you are able to do the other."

Some individuals work a 9-5 job, I will simply commerce Cramer for

it is not a lot, however sincere work

— Algod (@AlgodTrading) August 22, 2022

AIgod has risen to prominence within the crypto area after hitting $1 million bet between him and Terraform Labs CEO Do Kwon, during which AIgod claimed that the worth of Terra's LUNA token would fall under its present value of $88 in a 12 months from March 14, 2022.

Lower than two months later, Luna fell from its all-time excessive of over $120 to only $0.84.

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Azeez Mustafa
Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager – as well as an author.
Last Updated : December 23, 2022
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