John Deaton, the creator of CryptoLaw and a counsel for XRP investors, made a light-hearted jab at Jim Cramer, host of CNBC’s Mad Money. Deaton responded to an article claiming that Jim Cramer had predicted that “Bitcoin will shrivel up and die soon.”
According to the story, the CNBC host said that Bitcoin had no practical use and that it will dry up faster than a riverbed. The crypto sector frequently views Cramer’s advice with scepticism since he frequently sees the reverse of what he predicts happening.
Deaton made the following statement in response: “Right now is the first time I’ve thought BTC can hit $100K by the end of the year.”
It’s important to note that Deaton has frequently called out Cramer’s poor judgement.
Deaton tweeted in response to a mistake Cramer had made on the collapsed First Republic Bank: “Seriously, does Jim Cramer ever recognise these massive mistakes? You would think that after the Bear Stearns call, he would stop.
It wouldn’t be the first time that Cramer, who frequently declares his disapproval of cryptocurrencies, has foreseen Bitcoin’s decline. Described as a “strange animal” and “manipulated up,” Jim Cramer added that he would sell Bitcoin at that point in March.
Mid-April saw Bitcoin break the $30K milestone, despite Cramer’s advice to sell.
Jim Cramer gave investors advice to stay away from cryptocurrencies at the beginning of 2023, saying that the charts indicate they should not pay attention to “crypto cheerleaders.”
Currently, Bitcoin has increased by about 60% so far this year. At the time of writing, the top cryptocurrency had increased in value by about 2% over the previous day, reaching $28,305.
