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- After Jim Cramer predicted a decline in Bitcoin, attorney John E. Deaton rushed to invest in Bitcoin, challenging Cramer’s view.
- Historically, Cramer’s predictions for cryptocurrencies, such as the advice to sell Bitcoin at $17,000, were far from reality as Bitcoin later topped $27,000.
- Cramer predicted a bullish rally in 2022. However, the cryptocurrency market faced a sharp downturn, with Bitcoin falling below $16,000.
Bet against Jim Cramer
John E. Deaton – the US lawyer representing thousands of Ripple (XRP) investors in the lawsuit against the US Securities and Exchange Commission (SEC) – said that he invested in Bitcoin (BTC) right after hearing Jim Cramer’s latest stance on the underlying cryptocurrency.
– John E. Deaton (@JohnEDeaton1) October 10, 2023
The popular TV presenter predicted the downfall of the original. His statements came in response to billionaire investor Paul Tudor Jones, who recently… Announce His support for BTC again.
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The Jim Cramer Effect on Bitcoin
There are plenty of examples when the host of the financial TV show “Mad Money” on CNBC advised investors to sell Bitcoin or other cryptocurrencies. However, in many cases, it was not specifically his lawyer.
In December last year, he said urge People to abandon their “awful” crypto stances, adding that it is never too late to exit the ecosystem. The price of BTC was hovering around $17,000 at the time, while it is currently well above the $27,000 range.
At the beginning of 2022, he was more optimistic about cryptocurrencies, suggestion The BTC and ETH sell-off may end, indicating a potential market rally. However, the following months were extremely devastating for the industry, which saw the collapse of Terra, the bankruptcy of Celsius Network, and the collapse of FTX.
Unsurprisingly, these dark events negatively affected the leading digital asset, the price of which collapsed below $16,000 on several occasions.
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