Market observers and experts can offer valuable insight, but no one’s predictions are correct 100% of the time.
2023 proved to be quite the whirlwind as far as the global economy goes. From bullish crypto projections that failed to materialize to misplaced predictions about market downturns and recessions that never happened, Cointelegraph looks at the year’s most notable financial forecast flubs.
Bitcoin (BTC) went on a tear over the course of 2023, as highlighted by the fact that between October and December alone, the digital asset’s value surged from $26,700 to approximately $44,000, showcasing a price increase of 64.7%.
However, around the end of 2022 — when Bitcoin was trading for just $16,800 — American television personality and host of CNBC’s Mad Money Jim Cramer told viewers to liquidate all of their cryptocurrency holdings, particularly BTC, regardless of their losses. He said it’s “never too late to sell an awful position.” However, since doling out this advice, Bitcoin’s value has surged by over 150%.
