Pro-XRP lawyer John Deaton says he bought some BTC after watching Jim Cramer, CNBC Mad Money host, predict that Mr. Bitcoin is about to go down big.
Attorney John Deaton, the lawyer representing thousands of XRP holders in the SEC v. Ripple lawsuit, disclosed that he has “bought some Bitcoin.”
Deaton noted that he made the purchase after watching TV personality and financial advisor Jim Cramer’s prediction on BTC.
I bought some #Bitcoin immediately after watching this on principle alone. https://t.co/RYVbspG7BY
— John E Deaton (@JohnEDeaton1) October 10, 2023
Cramer Says Mr. Bitcoin is Going Down
In a recent episode of CNBC’s “Squawk on the Street,” Cramer was bearish on Bitcoin’s prospects. According to Cramer, he cannot invest “in something when Mr. Bitcoin is about to go down big.”
Cramer is generally known for being skeptical about cryptos, giving negative predictions for the asset class.
Crypto Enthusiasts Unbothered About Cramer’s Negative Predictions
Interestingly, the crypto community is unbothered by Cramer’s negative predictions. This is mainly because his forecasts on financial instruments, including cryptos, are usually wrong.
Consequently, several crypto enthusiasts recommend that people should always do the opposite of everything he advises. It is interesting to note that Attorney Deaton also shares the same sentiment.
Earlier this year, Attorney Deaton thanked Cramer for giving him the confidence to buy more Bitcoin. He made the appreciation tweet moment after Cramer advised investors to sell their Bitcoin. While some investors expected the price of Bitcoin to dip due to Cramer’s recommendation, the top crypto asset surged 9% in 4 days.
Thank you @jimcramer for giving me the confidence to buy #Bitcoin https://t.co/360AlIv6KW
— John E Deaton (@JohnEDeaton1) March 18, 2023
Notably, Deaton has continued to be bullish on Bitcoin. The top lawyer disclosed that he holds more BTC than XRP and ETH. However, he did not disclose his portfolio size.
Bitcoin Down 1.8% in 24 Hours
Meanwhile, Bitcoin has been maintaining the $27,000 support level over the past few days. BTC, which surged to $28,000 on October 8, has plunged to $27,160.
At press time, Bitcoin was down 1.8% over the past 24 hours, according to CoinGecko data.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
