A pro-Ripple advocate then bought Bitcoin
TL; DR
After Jim Cramer predicted the collapse of Bitcoin, attorney John E. Deaton immediately invested in BTC and challenged Cramer's view. Historically, Cramer's crypto predictions, like recommending to sell BTC at $17,000, have been invalidated as Bitcoin eventually surpassed $27,000. Cramer Expects 2022 Bull Run; However, the crypto market experienced a sharp decline, with Bitcoin falling below $16,000.
Bet on Jim Cramer
John E. Deaton – an American lawyer representing thousands of Ripple (XRP) investors in a lawsuit against the US Securities and Exchange Commission (SEC) – said that he immediately invested in Bitcoin (BTC) after hearing Jim Cramer's latest position on the main cryptocurrency.
I just bought some #Bitcoin after looking at this on principle.
— John E. Deaton (@JohnEDeaton1) October 10, 2023
The famous TV host predicted a fall in property. His comments came in response to billionaire Paul Tudor Jones announced Support for BTC again.
Most of the X users who participated in the discussion below Deaton's post praised the decision, recalling several failed crypto predictions from Cramer over the years.
The “Jim Cramer Effect” on Bitcoin.
There are many examples of the host of CNBC's financial TV show “Mad Money” advising investors to sell BTC or other digital currencies. However, in many cases, the recommendation is not properly implemented.
In December last year, he made a call Adding that it's not too late for people to exit the ecosystem to divest themselves of their “bad” crypto space. The price of BTC was hovering around $17,000 at the time, well above the $27K range it currently is.
In the year In early 2022, he was more bullish on crypto; suggestive BTC and ETH sell-offs may end, hinting at possible bull run. However, the following months were devastating for the industry, with the Terra crash, the Celsius Network bankruptcy, and the FTX meltdown.
Unsurprisingly, those dark events took their toll on the leading digital asset, with prices falling below $16,000 on two occasions.
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off your first month of Binance Futures (terms).
PrimeXBT Special Offer: Use this link to register and enter code CRYPTOPOTATATO50 to receive up to $7,000 in deposits.
