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Jim Cramer says crypto bulls are fooling themselves about the China ban

Bitcoin fell sharply after a sell-off of major U.S. stock indices. Bitcoin has been correlated closely to the price movement of the Nasdaq index.
Luke MacGregor  | Bloomberg | Getty Images

CNBC's Jim Cramer said Friday he believes it's impossible to view China's latest crackdown on cryptocurrencies as positive for the nascent digital assets.