Ripple CTO Reflects on Market Crash

David Schwartz, the chief technology officer at Ripple and an XRP Ledger creator, shared his thoughts on the recent crash in both traditional financial markets and cryptocurrency on X.

Schwartz’s Humorous Take on Market Collapse

In a light-hearted tweet, Schwartz referenced a childhood warning from his mother, saying, “It’s times like this when the market is crashing and everyone is panicking that I wish I had listened to what my mother told me as a child.” When questioned about the advice, he humorously replied, “I don’t know! I didn’t listen.”

Market Recovery

In the past 24 hours, Bitcoin has rebounded by 12.6%, rising back to the $56,000 mark after experiencing an 18% decline since Sunday.

Following a decline that saw Bitcoin drop by 28.70% to $69,840, the last few days have shown signs of recovery, aided by a resurgence in the Japanese stock market. After a steep crash that affected major indexes like the S&P 500 and Nasdaq, the upward movement in the Nikkei 225 has influenced global markets.

Currently, Bitcoin trades at $55,170, while Ethereum has risen by 11% to $2,470.

This article was originally published on U.Today