{"id":511293,"date":"2022-12-06T06:24:35","date_gmt":"2022-12-06T11:24:35","guid":{"rendered":"https:\/\/wncen.com\/?p=511293"},"modified":"2024-06-11T14:31:36","modified_gmt":"2024-06-11T14:31:36","slug":"experts-present-doom-scenarios-for-bitcoin-ada-xrp-doge","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/experts-present-doom-scenarios-for-bitcoin-ada-xrp-doge\/","title":{"rendered":"Peter Schiff And Jim Cramer Present Their Doom Scenarios For Bitcoin, Cardano, XRP, Dogecoin"},"content":{"rendered":"<p>Notorious CNBC host Jim Cramer has once again made controversial predictions for Bitcoin and the crypto market in the latest episode of the show &#8220;Mad Money&#8221;. Cramer has made a name for himself on the crypto scene in recent years, but possibly to the extent that he wanted to.<\/p>\n<p>Cramer&#8217;s mixed track record in crypto-analysis led to the creation of the &#8220;Inverse Cramer ETF,&#8221; a fictional exchange-traded fund that recommends the opposite of everything Cramer says.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Great news for crypto! <a href=\"https:\/\/t.co\/uKJznTn1Pr\" rel=\"nofollow\">pic.twitter.com\/uKJznTn1Pr<\/a><\/p>\n<p>&mdash; Inverse Cramer (Not Jim Cramer) (@CramerTracker) <a href=\"https:\/\/twitter.com\/CramerTracker\/status\/97246209?ref_src=twsrc%5Etfw\" rel=\"nofollow\">December 6, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Consequently, the crypto scene pays little credibility to the host&#8217;s predictions. Still, Cramer is not always wrong. In June, for example, he predicted that cryptocurrencies would continue to fall. He based this on the actions of the Federal Reserve.<\/p>\n<h2>Cardano, XRP And Dogecoin Going To Zero?<\/h2>\n<p>In the latest episode, the Mad Money host said that investors still have time to sell their crypto holdings. According to Cramer, the markets will continue to crash in 2023, so crypto investors should sell &#8220;before it&#8217;s too late.&#8221;<\/p>\n<p>&#8220;You can&#8217;t just beat yourself up and say, &#8216;hey, it&#8217;s too late to sell.&#8217; The truth is, it&#8217;s never too late to sell an awful position. And that&#8217;s what you have if you own these so-called digital assets,&#8221; Cramer said.<\/p>\n<p>Specifically, Cramer predicted that Cardano (ADA), XRP, Polygon (MATIC) and Dogecoin (DOGE) could crash to zero. According to him, these cryptocurrencies are still highly overvalued, so those who hold them should sell them.<\/p>\n<p>https:\/\/twitter.com\/GillBatesVax\/status\/76043521<\/p>\n<p>However, his reckoning with crypto didn&#8217;t end there. The moderator made serious accusations against Tether (USDT).<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-lacking-momentum-17k\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Price Lacking Momentum Above $17k, BTC Holders Are Safe: Here\u2019s Why<\/a><\/div>\n<p>According to Cramer, the largest stablecoin in the crypto market could meet a fate similar to Luna&#8217;s TerraUST, which fell to zero in three days in May this year.<\/p>\n<blockquote><p><strong>Tether, a so-called stablecoin that&#8217;s supposed to be kinda-sorta pegged to the dollar, still has a $65 billion market cap. <\/strong><\/p>\n<p><strong>There&#8217;s still a whole industry of crypto boosters trying desperately to keep all of these things up in the air. Not too different from what happened with bad stocks during the dot-com collapse.<\/strong><\/p><\/blockquote>\n<p>Remarkably, Cramer&#8217;s Bitcoin bear market low of $12,000, which he predicted in previous broadcasts, is still a long way off.<\/p>\n<h2>Peter Schiff Shares Bitcoin Prediction At $5,000<\/h2>\n<p>Cramer, however, is not the only Bitcoin critic spreading doom and gloom. Gold bug Peter Schiff has <a href=\"https:\/\/twitter.com\/PeterSchiff\/status\/34249986\" target=\"_blank\" rel=\"noopener nofollow\">shared<\/a> an assessment from Standard Chartered that Bitcoin is still overvalued at its current price of <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-lacking-momentum-17k\/\" target=\"_blank\" rel=\"noopener \">about $17,000<\/a>.<\/p>\n<p>According to the word-strong Bitcoin critic and multinational bank, BTC is at risk of another 70% crash in 2023. Standard Chartered claims Bitcoin could fall to $5,000 next year.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-undervalued-170-days-compare-previous-bears\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Now Undervalued For 170 Days, How Does This Compare With Previous Bears?<\/a><\/div>\n<p>In a note entitled &#8220;The financial-market surprises of 2023,&#8221; Standard Chartered states that a negative surprise could be Bitcoin falling to US$5,000 next year.<\/p>\n<p>Rising yields along with a slump in tech stocks will lead to an acceleration of the Bitcoin sell-off and cause more bankruptcies in the crypto world, according to the bank.<\/p>\n<h3>Goldman Sachs To Buy Up The FTX Mess<\/h3>\n<p>Despite all the dystopian <a href=\"https:\/\/wncen.com\/analysis\/matic-price-prediction-rally-1-12\/\" target=\"_blank\" rel=\"noopener \">predictions<\/a>, however, there is also extremely bullish news today. As Reuters <a href=\"https:\/\/www.reuters.com\/technology\/goldman-sachs-hunt-bargain-crypto-firms-after-ftx-fiasco-2022-12-06\/\" target=\"_blank\" rel=\"noopener nofollow\">reports<\/a>, Goldman Sachs is on the hunt for cheap crypto companies after the FTX collapse and plans to spend tens of millions of dollars to buy or invest in crypto companies.<\/p>\n<p>Regardless of how the Bitcoin scene views this on ideological grounds, this should be a strong catalyst for maturation and progress for the institutional sector.<\/p>\n<p>At press time, Bitcoin was trading at $16,967 and has lost <span style=\"font-weight: 400\">its <\/span>volatility again.<\/p>\n<figure id=\"attachment_511302\" aria-describedby=\"caption-attachment-511302\" style=\"width: 2950px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-511302 size-full\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/12\/BTCUSD_2022-12-06_12-03-47.png?resize=2950%2C1615\" alt=\"Bitcoin BTC USD 2022-12-06 \" width=\"2950\" height=\"1615\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/12\/BTCUSD_2022-12-06_12-03-47.png?w=2950 2950w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/12\/BTCUSD_2022-12-06_12-03-47.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/12\/BTCUSD_2022-12-06_12-03-47.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/12\/BTCUSD_2022-12-06_12-03-47.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/12\/BTCUSD_2022-12-06_12-03-47.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/12\/BTCUSD_2022-12-06_12-03-47.png?w=2048 2048w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/12\/BTCUSD_2022-12-06_12-03-47.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/12\/BTCUSD_2022-12-06_12-03-47.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-511302\" class=\"wp-caption-text\">BTC price, 4-hour chart. Source: <a href=\"https:\/\/www.tradingview.com\/chart\/uD28avrX\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Notorious CNBC host Jim Cramer has once again made controversial predictions for Bitcoin and the crypto market in the latest episode of the show &#8220;Mad Money&#8221;. Cramer has made a name for himself on the crypto scene in recent years, but possibly to the extent that he wanted to. Cramer&#8217;s mixed track record in crypto-analysis led to the creation of the &#8220;Inverse Cramer ETF,&#8221; a fictional exchange-traded fund that recommends the opposite of everything Cramer says. Great news for crypto! pic.twitter.com\/uKJznTn1Pr &mdash; Inverse Cramer (Not Jim Cramer) (@CramerTracker) December 6, 2022 Consequently, the crypto scene pays little credibility to the host&#8217;s predictions. Still, Cramer is not always wrong. In June, for example, he predicted that cryptocurrencies would continue to fall. He based this on the actions of the Federal Reserve. Cardano, XRP And Dogecoin Going To Zero? In the latest episode, the Mad Money host said that investors still have time to sell their crypto holdings. According to Cramer, the markets will continue to crash in 2023, so crypto investors should sell &#8220;before it&#8217;s too late.&#8221; &#8220;You can&#8217;t just beat yourself up and say, &#8216;hey, it&#8217;s too late to sell.&#8217; The truth is, it&#8217;s never too late to sell an awful position. And that&#8217;s what you have if you own these so-called digital assets,&#8221; Cramer said. Specifically, Cramer predicted that Cardano (ADA), XRP, Polygon (MATIC) and Dogecoin (DOGE) could crash to zero. According to him, these cryptocurrencies are still highly overvalued, so those who hold them should sell them. https:\/\/twitter.com\/GillBatesVax\/status\/76043521 However, his reckoning with crypto didn&#8217;t end there. The moderator made serious accusations against Tether (USDT). Related Reading: Bitcoin Price Lacking Momentum Above $17k, BTC Holders Are Safe: Here\u2019s Why According to Cramer, the largest stablecoin in the crypto market could meet a fate similar to Luna&#8217;s TerraUST, which fell to zero in three days in May this year. Tether, a so-called stablecoin that&#8217;s supposed to be kinda-sorta pegged to the dollar, still has a $65 billion market cap. There&#8217;s still a whole industry of crypto boosters trying desperately to keep all of these things up in the air. Not too different from what happened with bad stocks during the dot-com collapse. Remarkably, Cramer&#8217;s Bitcoin bear market low of $12,000, which he predicted in previous broadcasts, is still a long way off. Peter Schiff Shares Bitcoin Prediction At $5,000 Cramer, however, is not the only Bitcoin critic spreading doom and gloom. Gold bug Peter Schiff has shared an assessment from Standard Chartered that Bitcoin is still overvalued at its current price of about $17,000. According to the word-strong Bitcoin critic and multinational bank, BTC is at risk of another 70% crash in 2023. Standard Chartered claims Bitcoin could fall to $5,000 next year. Related Reading: Bitcoin Now Undervalued For 170 Days, How Does This Compare With Previous Bears? In a note entitled &#8220;The financial-market surprises of 2023,&#8221; Standard Chartered states that a negative surprise could be Bitcoin falling to US$5,000 next year. Rising yields along with a slump in tech stocks will lead to an acceleration of the Bitcoin sell-off and cause more bankruptcies in the crypto world, according to the bank. Goldman Sachs To Buy Up The FTX Mess Despite all the dystopian predictions, however, there is also extremely bullish news today. As Reuters reports, Goldman Sachs is on the hunt for cheap crypto companies after the FTX collapse and plans to spend tens of millions of dollars to buy or invest in crypto companies. Regardless of how the Bitcoin scene views this on ideological grounds, this should be a strong catalyst for maturation and progress for the institutional sector. At press time, Bitcoin was trading at $16,967 and has lost its volatility again.<\/p>\n","protected":false},"author":571,"featured_media":511295,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[12333,428,1119,12332,87512,1785,7,87674,4531],"class_list":["post-511293","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ada","tag-bitcoin","tag-btc","tag-cardano","tag-cramer","tag-doge","tag-dogecoin","tag-schiff","tag-xrp"],"acf":[],"yoast_head":"\n<title>Experts Present Doom Scenarios for Bitcoin, ADA, XRP, DOGE<\/title>\n<meta name=\"description\" content=\"Jim Cramer has once again made controversial predictions for Bitcoin and the crypto market in the latest episode of the show &quot;Mad Money&quot;.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.\",\"sameAs\":[\"https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons\"],\"url\":\"https:\/\/wncen.com\/author\/marcusmisiak\/\"}]}<\/script>\n","yoast_head_json":{"title":"Experts Present Doom Scenarios for Bitcoin, ADA, XRP, DOGE","description":"Jim Cramer has once again made controversial predictions for Bitcoin and the crypto market in the latest episode of the show \"Mad Money\".","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/wncen.com\/news\/experts-present-doom-scenarios-for-bitcoin-ada-xrp-doge\/","og_locale":"en_US","og_type":"article","og_title":"Experts Present Doom Scenarios for Bitcoin, ADA, XRP, DOGE","og_description":"Jim Cramer has once again made controversial predictions for Bitcoin and the crypto market in the latest episode of the show \"Mad 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