We’re getting ever closer to the announcement of our Crapties Awards… And everyone – LITERALLY EVERYONE – is asking ‘who’ll win the coveted ‘Tipster of the Year’ award?’
Predicting the crypto market is like sexing a chicken. There’s a 50% chance you’ll be right but call it wrong and you get egg on your face. Still, for some reason, there are plenty of pundits prepared to make confident and wildly inaccurate predictions about the market.
Here’s our sneak preview of some of the likely nominees…
Who?
Jim Cramer, host of CNBC’s Mad Money.
Why?
Advised viewers to buy Coinbase shares – the price dropped 80%. Then advised them to sell their Coinbase shares – the price rose 50%. Praised Ark Investment Management CEO Cathie Wood just before her flagship fund plummeted. Jim’s been getting it so wrong lately, Tuttle Capital Management have issued a prospectus for an ‘Inverse Cramer’ fund that bets against his predictions.
Why should he win?
He doesn’t think he should. Which almost guarantees that he will.
Who?
Popular Twitter crypto pundit, Il Capo of Crypto.
Why?
In November 2021, after BTC hit an all time high, advised followers to HODL, not sell. Predicted in March 2021 that BTC would hit a high of between $200k and $500k before March 2022. In January 2022, called $43k as the bottom of the bear market.
Why should he win?
Like an indecisive child faced with a bunk bed, Il Capo can’t call top or bottom.
Who?
Arthur Hayes, former CEO of BitMEX.
Why?
Predicted that The Merge would have “an incredibly powerful impact on the price of ETH” – it fell by 20%. Predicted after The Merge that the event wasn’t priced in yet – it’s still down 20%. Maintained through 2022 that ETH would be $10,000 by the end of the year. To be fair, he’s got a few weeks left for that miracle.
Why should he win?
Always doubling down, deserves credit for his stubborn refusal to merge his predictions with subsequent reality.
Who?
Matthew Henry, Head of Funds at Digitalx Asset Management.
Why?
Said on May 4th that “LUNA will end up being $160 per coin by year’s end.” Just over a month later, it was valued at $0.000063, and only needed to rise 2,539,682.54% to meet his target.
Why should he win?
As an investor in LUNA, he needs some good news.
Who?
Mike Novogratz, CEO of Galaxy Investment Partners.
Why?
Mike’s actions speak louder than his words. He was so bullish on LUNA, he had the stablecoin’s logo tattooed on his arm. A candid beach photo later revealed that he carries a number of tattoos of failed investments.
Why should he win?
When it comes to disastrous predictions, Mike’s been there, done that, and got the T-shirt, which he needs to hide his embarrassing tattoos.
