The S&P 500 index is now more strongly dependent on the crypto market — Jim Cramer

According to Kramer's tweet, the S&P 500 stock index, which includes the 500 largest publicly traded companies by market capitalization, is heavily influenced by the speculative crypto market. As Kramer put it, "the tail wags the dog." This means that the smaller and more volatile segment of the market begins to affect a much larger system.

According to the leading observer, when the cryptocurrency market rises, the stock market tends to rise as well, and when the crypto market falls, stocks often decrease too. A crypto skeptic noted that this trend has been clearly observed in the last few weeks.

The recent decline in global markets occurred against the backdrop of the trade war between the US and China. The market downturn was also fueled by uncertainty regarding the US Federal Reserve's (Fed) policy on interest rates.

The host of the Thinking Crypto podcast, Tony Edward (Tony Edward), asked Kramer to make a prediction that Bitcoin will never reach $200 000, Ethereum will not rise to $10 000, and XRP will head towards zero. The irony is that Kramer's bearish predictions may actually signal a significant rise for these crypto assets.

Previously, Kramer often criticized cryptocurrencies; however, last year he stated that Bitcoin should become an integral part of any investment portfolio — to reduce financial risks associated with the growing U.S. national debt.