Ripple Lawyer – John Deaton Purchased BTC after Jim Cramer’s negative prediction

Key Points:

• John Deaton purchased BTC (Bitcoin) after hearing about Jim Cramer’s recent stance on the primary cryptocurrency.
• Jim Cramer’s past track record of inaccurate crypto predictions and his recommendations to sell BTC and other digital currencies.

John Deaton, the attorney representing XRP investors in the US government’s case against Ripple, disclosed that he bought Bitcoin following a bearish prediction from renowned TV host Jim Cramer.

John Deaton Purchased BTC after Jim Cramer’s Recent Stance

According Coingraph, John Deaton purchased BTC right after learning about Jim Cramer’s recent stance on the primary cryptocurrency. The well-known TV host had forecasted a downturn for the asset, a response to the billionaire investor Paul Tudor Jones, who had once again expressed his support for BTC.

In the discussion following John Deaton purchased BTC announcement, a majority of XRP enthusiasts lauded his decision while reminding everyone of Jim Cramer’s past track record of inaccurate crypto predictions.

Jim Cramer’s Track Record of Inaccurate Crypto Predictions

Over the years, Cramer, the host of CNBC’s financial TV show “Mad Money,” has offered advice to investors to sell BTC and other digital currencies. However, his recommendations have often missed the mark. In December of the previous year, Cramer had urged people to divest from their cryptocurrency holdings, describing them as “awful” and suggesting that it was never too late to exit the crypto market. At that time, the price of BTC was hovering around $17,000, whereas it currently sits comfortably above the $27,000 range.

At the beginning of 2022, Cramer had adopted a more bullish stance on crypto, indicating that the sell-offs of BTC and ETH might be over and hinting at a possible bull run. However, the subsequent months brought significant challenges to the industry, with events like the Terra crash, Celsius Network’s bankruptcy, and the FTX meltdown. Unsurprisingly, these events took a toll on the leading digital asset, causing its price to drop below $16,000 on multiple occasions.

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