Jim Cramer is discussing Nike (NKE) - Get Free Report, Tesla (TSLA) - Get Free Report, Bitcoin, momentum stocks such as Corsair (CRSR) - Get Free Report and what he wants to see from the Federal Reserve.
Watch the full interview with Katherine Ross in the video below:
Elon Musk, Tesla and Bitcoin
Elon Musk has once again taken to Twitter to discuss Tesla and Bitcoin. In response to a tweet from Cointelegraph, the CEO of Tesla tweeted, "This is inaccurate. Tesla only sold ~10% of holdings to confirm BTC could be liquidated easily without moving market. When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions."
What's Going on With Bitcoin?
"According to DeMark, after a staggering decline, bitcoin will need time to consolidate before beginning to recover. He's created a 13-day countdown pattern for when that change is likely to occur. He said if bitcoin can hold above its May 19 low, it needs to see another nine ugly sessions, which may take another three or four weeks to occur. He noted that bitcoin's current chart mirrors that of the recovery after the 1987 market crash," he continued. "As for the S&P, DeMark felt the index is running out of steam and is close to a top. He noted the S&P only needs two more up-days to complete his 13-session countdown."