© Reuters. XRP Lawyer Mocks Jim Cramer's Bizarre Bitcoin Forecast
U.Today: A lawyer recently criticized Jim Cramer, the host of CNBC's Mad Money, for his inaccurate prediction of 's price.
Deaton, who represented more than 75,000 XRP holders in the SEC-SEC lawsuit, responded to a tweet about Jim Cramer's recent BTC prediction and said, “Good news. I literally bought more Bitcoin.”
Cramer, a former hedge fund manager, said in a television segment on Monday that Bitcoin was “peaking,” just days after claiming the cryptocurrency was “here to stay.”
Cramer's predictions tend to go in the opposite direction, hence the XRP lawyer's witty response.
Unsurprisingly, Jim Cramer's prediction turned out to be contrary, as Bitcoin rose to a 21-month high, setting a new yearly high.
At the time of writing, Bitcoin was up 4.31% to $46,855, according to the data. Bitcoin hit a high of $47,330 in trading on Monday. The last time it traded above $47,000 was in April 2022.
On Wednesday, the SEC will have its first deadline to approve or reject one of the ETF applications, that of Ark 21Shares. It is widely assumed that the regulator could approve multiple applications at the same time.
BlackRock (NYSE 🙂), Grayscale and other potential issuers have filed final updates with the Securities and Exchange Commission, including important fee disclosures that increased investor confidence that approval is more likely.
Many investors believe that the effect of the first day of an approval may have been overstated, but that the event itself will offer new avenues for institutional entries into Bitcoin in the long term.
This article was originally published on U.Today.
