XRP Lawyer Mocks Jim Cramer’s Bitcoin Forecast
XRP Lawyer Takes a Jab at Jim Cramer
A lawyer representing XRP holders recently mocked Jim Cramer, the host of CNBC’s Mad Money, for his inaccurate prediction of Bitcoin’s price.
Response to BTC Prediction
Responding to a tweet about Jim Cramer’s recent BTC prediction, the lawyer, who represented over 75,000 XRP holders in a lawsuit against the SEC, expressed, “Glorious news. Literally, bought more Bitcoin.”
Cramer’s Contradictory Predictions
Cramer, a former hedge fund manager, had claimed that Bitcoin was “topping out,” just days after asserting that the cryptocurrency was “here to stay.” His predictions tend to move in the opposite direction, hence the XRP lawyer’s witty response.
Bitcoin’s Surprise Surge
Contrary to Cramer’s prediction, Bitcoin climbed to a 21-month high, setting a new yearly record. At the time of writing, Bitcoin was up by 4.31% to $46,855, reaching a high of $47,330 in trading on Monday.
SEC’s ETF Application Deadline
Wednesday marks the SEC’s first deadline to approve or reject one of the ETF applications, that of Ark 21Shares. It is widely assumed that the regulator might approve multiple applications simultaneously.
Positive Investor Sentiment
BlackRock, Grayscale, and other possible issuers have filed final updates with the Securities and Exchange Commission, boosting investors’ confidence that an approval is more likely than not. Many investors believe that an approval might offer new avenues for institutional inflows into Bitcoin in the long term.
Conclusion
This article was originally published on U.Today.
