Cramer reviewed Bitcoin’s daily chart action, which peaked at around $ 65,000 in mid-April.
Demark, who said the Bitcoin decline was similar to the 1987 crash, predicted that the decline would bring tokens worth $ 32,000 and, in the worst case, $ 24,000.
In what is known as “Black Monday,” the Dow Jones Industrial Average plummeted by more than 20% on October 19, 1987.
“If DeMark is right, we have a chance to buy Bitcoin in the not too distant future, and I might take it,” Kramer said.
For the S & P 500, which hit a record high for the second straight day, Demark’s indicators suggest that the index may be close to the top, Kramer said.