JPMorgan's Nikolaos Panigirtzoglou questioned whether the hype around altcoins such as cardano's ada is justified by their likely uptake.
"This was a little air being popped out of the balloon," crypto billionaire Mike Novogratz said of Tuesday's bitcoin crash.
Cramer cited China's tough stance toward cryptocurrency and the recent cyberattacks among his reasons for selling.
"The value of bitcoin isn't the bitcoin code. It's this social construct. It's valuable because we say it's valuable," Novogratz said. "It's crazy."
Crypto billionaire Mike Novogratz said a boom in alternative coins was overwhelming bitcoin and the cryptocurrency market, like in 2017.