TL;DR

• After Jim Cramer predicted Bitcoin’s decline, attorney John E Deaton promptly invested in BTC, challenging Cramer’s view.
• Historically, Cramer’s crypto forecasts, like advising to sell BTC at $17,000, have been off-mark as Bitcoin later surpassed $27,000.
• Cramer anticipated a 2022 bull run; however, the crypto market faced severe downturns, with Bitcoin dipping below $16,000.

Betting Against Jim Cramer

John E Deaton – an American attorney representing thousands of Ripple (XRP) investors in the lawsuit against the US Securities and Exchange Commission (SEC) – said he invested in Bitcoin (BTC) right after hearing Jim Cramer’s latest stance on the primary cryptocurrency.

I bought some #Bitcoin immediately after watching this on principle alone. https://t.co/RYVbspG7BY

— John E Deaton (@JohnEDeaton1) October 10, 2023

The popular TV host predicted a downfall for the asset. His comments came in response to the billionaire investor Paul Tudor Jones, who recently declared his support towards BTC once again.

Most X users who took part in the discussion below Deaton’s post praised his decision, reminding the numerous failed crypto forecasts coming from Cramer in the past years.

The “Jim Cramer Effect” on Bitcoin

There are plenty of examples when t