- Attorney John Deaton didn’t expect XRP to hit $3.40 ATH after the court win, aiming for $1 instead.
- Despite favorable rulings, Deaton’s XRP and Bitcoin predictions missed the mark, with XRP at $0.85 and BTC up 8%.
- Bear market impact noted as analysts anticipate XRP and BTC could exceed past highs amid upcoming Bitcoin halving and XRP’s non-security status.
Crypto-Law.US founder John Deaton’s candid tweet admitted his lack of prowess in crypto price predictions, revealing his skepticism towards XRP reaching its $3.40 all-time high (ATH) despite a favorable court ruling. Deaton’s prediction held for a $1 valuation, a mark that also remains unmet, with XRP currently trading at around $0.53.
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Likewise, Deaton’s forecast for Bitcoin missed its mark, as he expected a 10% to 15% surge post-Grayscale’s victory over the US Securities and Exchange Commission (SEC). Despite the positive outcome for Bitcoin, the cryptocurrency managed only an 8.4% rally within eight hours. Deaton’s anticipation of an even larger leap failed to materialize.
Analysts attribute these discrepancies to the prevailing bear market conditions, which have seemingly thwarted Deaton’s estimates. However, a glimmer of optimism remains on the horizon.
Market experts speculate that the next Bitcoin halving, anticipated around April 2024, could usher in a bullish trend. Furthermore, with XRP’s classification as a non-security and the potential introduction of a spot Bitcoin exchange-traded fund (ETF) in the US, both cryptocurrencies might surpass their previous ATHs in the forthcoming bull market.
Deaton remains hopeful for XRP’s ATH resurgence, aligning its fate with Bitcoin’s performance. As the crypto community awaits the next market dynamics, it’s clear that even expert projections can sway amidst the unpredictable forces of the digital currency landscape.
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