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Pro-XRP Lawyer Thinks Bitcoin (BTC) Might Reach $100K, But There's a Catch

Wed, 05/03/2023 - 15:00
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Tomiwabold Olajide
Pro-XRP lawyer now thinks Bitcoin (BTC) could reach $100K
Pro-XRP Lawyer Thinks Bitcoin (BTC) Might Reach $100K, But There's a Catch
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CryptoLaw founder John Deaton, who is also an XRP holders' attorney, took a slight dig at CNBC Mad Money host Jim Cramer. Deaton reacted to a headline that cited Jim Cramer as saying that "Bitcoin will shrivel up and die soon."

Per the article, the CNBC host remarked that Bitcoin had no real use case and that the lead cryptocurrency would dry up faster than a riverbed. Cramer's recommendations have often been taken with a grain of salt by the crypto industry, as the opposite of what he predicts often happens.

Based on this, Deaton commented, "Right now is the first time I've thought BTC can hit $100K by the end of the year."

It bears mentioning that Deaton has often pointed out Cramer's wrong calls.

Reacting to a wrong call made by Cramer on the failed First Republic Bank, Deaton tweeted, "Serious question: does Jim Cramer ever acknowledge these colossal wrong calls? After the Bear Stearns call, you would think he would stop."

Ripple Case Ruling Might Prove to Be Crypto's Biggest Week, John Deaton Says

It would not be the first time that Cramer, who often says he is negative on crypto, has predicted Bitcoin's fall. In March, Jim Cramer referred to Bitcoin as a "strange animal" and said that it is being "manipulated up," adding that he would sell Bitcoin at that point.

Bitcoin surpassed the $30K mark in mid-April, defying Cramer's recommendations to sell.

At the very start of 2023, Jim Cramer advised investors to steer clear of cryptocurrencies, stating that the charts suggest they should not listen to "crypto cheerleaders."

Now, Bitcoin has made about 60% gains year to date. At the time of writing, the lead cryptocurrency had traded up nearly 2% in the last 24 hours to $28,305.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.