In a recent tweet, pro-Ripple lawyer and founder of CryptoLaw John Deaton took a subtle jab at Mad Money host Jim Cramer for his faulty Bitcoin advice.
Deaton was reacting to a tweet by a user “Neil Jacobs,” who pointed out that the Bitcoin price had risen since Cramer issued his Bitcoin take.
Thank you @jimcramer for giving me the confidence to buy #Bitcoin https://t.co/360AlIv6KW
— John E Deaton (@JohnEDeaton1) March 18, 2023
Earlier in the week, during an episode of the Mad Money show, Cramer voiced his loss of faith in cryptocurrencies while adding that he thinks Bitcoin’s price is “being manipulated up.”
Cramer noted the rise in the price of bitcoin and said, “I would sell my bitcoin right into this rally.”
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Many crypto enthusiasts interpreted Cramer’s take on Bitcoin as a buy signal, citing his history of faulty takes. Deaton also inferred this as he thanked the Mad Money CNBC host for giving him the confidence to buy Bitcoin.
Bitcoin surpasses $27k
For the first time since June 2022, Bitcoin surpassed the $27,000 mark, reaching intraday highs of $27,780 at press time.
At the time of writing, BTC was up 2.84% in the last 24 hours to $27,466, according to CoinMarketCap data. The lead cryptocurrency is up 35.85% since the past week. The majority of cryptocurrencies also traded in the green at press time as the newest developments in the escalating U.S. banking crisis bolstered the crypto markets.
The Federal Reserve’s overnight balance sheet data, which showed that roughly $300 billion had been injected into the economy as part of the reaction to the financial crisis, served as a spark for fresh upside.
1. Silvergate
2. SVB
3. Signature
4. First Republic
5. Credit Suisse
6. 186 similar Banks
7. In a matter of days, the Fed erased half ($300B) of the QT it implemented during the last year
I believe this will be #Bitcoin‘s moment when history 📚s are written. https://t.co/NxB6aN74R2
— John E Deaton (@JohnEDeaton1) March 18, 2023
In another tweet, John Deaton stated his belief that, given the growing banking crisis in the U.S., this period might be Bitcoin’s moment when history books are written.