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Ripple CTO Reacts to Jim Cramer’s ‘Black Monday’ Prediction
In a recent interview, Ripple CTO David Schwartz expressed skepticism about Jim Cramer’s grim projection for the cryptocurrency market. According to sources close to Bloomberg, Cramer has been vocal about his pessimistic outlook on the industry.
When asked about Cramer’s remarks, Schwartz countered by pointing out historical patterns of market behavior. “I believe in a repeat of history,” he said. “We’ve seen this kind of sell-off before, and we’ve always bounced back.”
Schwartz’s comments come as Bitcoin has plummeted to $76,342.27, down 7.77% over the past 24 hours. The bearish sentiment has also impacted the ETH/BTC ratio, which has dropped to a concerning low of 0.02.
Despite this gloomy outlook, Schwartz emphasized that there are factors that could potentially trigger a rebound in the market. In his view, these include mainstream investors reentering the market and institutional investors beginning to buy in at lower prices.
It remains to be seen whether Cramer’s prediction will come true or if the market will indeed repeat history and bounce back as Schwartz expects.
Source: https://u.today/ripple-cto-reacts-to-jim-cramers-black-monday-prediction
