David Schwartz, the CTO of Ripple and one of the creators of the XRP Ledger, shared his perspective on the recent market crash through his official account on the X social media platform. His tweet captivated the XRP community, generating numerous comments and reactions.
The Humorous Take
Schwartz issued a comment that both intrigued and entertained the XRP community, referencing a childhood warning allegedly given by his mother. As usual, his tweet was meant to be humorous. In his post, he wrote: “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 followers inquired about his mother’s advice, Schwartz humorously responded: “I don’t know! I didn’t listen.”
Over the past 24 hours, Bitcoin has recovered by 12.6%, reaching $56,000 after experiencing a more than 18% decline since Sunday.
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The decline started on Monday, July 29, and between that date and Monday of this week, Bitcoin crashed by 28.70%, dropping from its high of $69,840. Today, Bitcoin experienced a 2% drop, settling at $54,750. However, the market shows signs of recovery.
Impact Of Global Markets
Bitcoin’s rebound coincides with the recovery of the Japanese stock market, which also experienced a crash. Major U.S. indexes like the S&P 500 and the Nasdaq faced significant declines, dragging Bitcoin down with them.
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The crypto market crash was exacerbated by massive liquidations as fearful traders tried to cut their losses. Yet, with the Japanese index Nikkei 225 showing a strong rise, markets globally are beginning to recover.
Currently, Bitcoin trades at $55,170, while Ethereum, the second-largest cryptocurrency, is at $2,470 after an 11% recovery. The market’s gradual rebound suggests a possible stabilization following recent turbulence.
