- In his latest tweet, Jim Crammer predicted another weak year for the crypto industry.
- The inverse Cramer effect led to a meme fest amongst crypto investors.
- Binance CEO Changpeng Zhao responded by saying, “Finally, WAGMI”.
Binance CEO Changpeng Zhao(CZ) trolled American television personality and author, Jim Cramer for his negative crypto prediction. In his latest tweet, Jim Crammer predicted another weak year for the crypto industry and said he wonders if people are still involved in it.
For the uninitiated, Jim Cramer is popular for his inverse Cramer effect which implies that whatever he predicts the opposite of it happens. Thus, after his prediction came out, Crypto Twitter pointed out the inverse Cramer effect in it and hinted at a bullish crypto year instead.
Binance CEO jumped on the bandwagon as he tweeted:
Finally, WAGMI
Popular Crypto Twitter influencer Greg said that Jim predicting a bad year for crypto makes him bullish while others asserted that the bottom is in. Prior to this prediction, Cramer had said that he trusted Draftkings more with his money than Binance. Days later, Draftkings suffered a hack worth $300k.
Cramer making wrong predictions in the stock and crypto markets have turned him into a meme in the crypto space and has led to people counter-trading him.
Last year was a tough one for the crypto with many big firms collapsing and the persisting bear market. Thus, as soon as the new year kicked in, several crypto pundits made predictions for what could be the case for the industry in 2023.
Recently, ETF and mutual fund manager VanEck also came up with 11 crypto predictions for 2023. The predictions cover a wide variety of realms, including price development and many others.
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