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Hello this is Matt on the moon family Said Dan Channel you know I continue to Be impressed by xrp's performance when You take into consideration that agree To which it's been endlessly attacked Especially by the SEC for two plus years In fact take a look at this headline From the crypto basic making the point Despite the case xrp up over 100 percent Since SEC lawsuit against Ripple and I Think it's just a pretty clear Illustration that those of us that are Still here and still paying attention I Think we know I mean I kind of hate to Use this phrase It's overplayed but we Know what we hold like it is literally True and sometimes I just I get Irritated by the phrase a little bit Because it's used to mean something that Sounds more out in conspiracy theory Land a lot of those types of people use It but I do know what I hold and I do Understand the degree to which it's used Uh useful today I understand the Potential for it to be increasingly Useful including in how it's being Positioned as a bridge currency to help Legacy Finance yes I understand what I Hold I sure as hell do I think the fact That so many of you out there listening Right now and many others in our Community understand it that's why it is Still where it is up despite and mind You uh so we were at you going into you
Know positive price land you know that You know what was like the if you want To call it like a mini old season it Wasn't like a full blown out season like 2017 but in 2022 going into early 2021 That's when the alts that took off Ultimately did and so xrp sort of Participated but uh but the point is We're in a you know a happier times in Terms of price action now we're either You know at the bottom of the bear Market or close to it and it's still up To like compared to that to me that's Actually pretty incredible All Things Considered it's easy to feel defeated With all this nonsense we had to put up With for over two years but I I really Firmly believe that this is a strong Indication that people broadly do get This and that's why when you saw judge Torres's run just a few days ago when The dalbert Motions you saw that xrp Price held by the re while the rest of The market was panicking and fine even Xrp did start to go down after three Days of you know just of you know Massive pressure but it took all that Time and in the meantime well most of Crypto is going down it was just going Sideways so I think people have placed Their bets and we're by and large Anticipating a very bright future for Xrp including in the United States But um there's been some crazy stuff
Happening especially with the you know The biggest new you know the biggest Scarcare news lately being a Silicon Valley Bank I talked about that in depth In a video earlier today and I talked About it literally yesterday and things Continue to develop so I think we're Going to be talking about it for some Time to come and I actually even have a Story I'll share towards the end of the Video about Elon Musk potentially buying Silicon Valley Bank And you know it's just the degree to Which it's he's serious I don't know but It's it started the same as like when Somebody you know deposited the idea That he should buy Twitter he was like Maybe I look into that basically and Then he did he bought Twitter so I'm Like if he's he's saying he might buy a Bank I'm like well maybe he's gonna buy A bank what the hell do I know it'd be Interesting to see what the implications Of that would be and and also one Additional thing that I've been saying For some time Is that you know if we're gonna see Another low but below the roughly Fifteen thousand five hundred dollars For Bitcoin that we saw after the FDX Collapse if we're actually going to take Out that low I've been saying the only Way that it's going to happen is if we Have a wild card event you know a Black
Swan event is this what we're seeing Right now with Silicon Valley Bank well I've got uh an article covering some Perspective from an analyst that seems To think that this indeed may be the Case so we'll see but Um before sharing additional ideas I do Want to be clear I don't have a Financial background of any kind I'm not Offering Financial advice and you Definitely should not buy or sell Anything because of anything I say or Right I'm just an Enthusiast who enjoys Making YouTube videos about crypto Related topics but just as a hobby and Just for fun so I record this video xrp Is at 36 Cents Bitcoin at 20 184 but I Will note uh it got as low as nineteen Thousand seven hundred and eighty four Dollars within the last 24 hours Um xrp actually got as low as what 30 Just over 36 Cents Uh market cap for the asset class 941 Billion Bitcoin dominance 41.42 and People are fearful and that shouldn't be Surprising given all the terrible news That we've had over the last several Days crypto fear and green index at 33 Out of 100 absolutely people back in Fear you know with the the scary news From uh you know Jerome Powell about Interest rates you can expect those to Keep going up and then you had the Collapse of silvergate bank and then you
Had the collapse of Silicon Valley Bank And these are you know crypto related Banks I mean they're well to be clear They're real like quote-unquote Traditional Banks they just happen to be Uh working closely with firms in the World of crypto but they are Legacy Banks in that sense they're just more Forward thinking that had been you know Engaged with crypto customers uh they're Gone and again I've already covered why So I don't want to rehash that in this Video but it's causing tremendous fault Including with stable coins and it's Worth at least mentioning even though I'm not going to explain why in this Video because I already did earlier Today uh usdc stablecoin not as low as That got us down as low as 87 cents the Lowest it's ever been in history crazy Stuff going on but you've got xrp and in Fact so like this article where they're Talking about xrp being up over 100 Percent since the lawsuit began they're They're considering that from the point Where it bottomed out after the SEC sued Technically that's what they're really Getting at because xrp is around 60 Cents it got down to about 17 cents and So from there yeah up quite a bit and Then they shared this from xrp Community Member Stefan Huber he used the Wayback Machine to pull up the price of xrp on December 29th 2020. so you're you're
Looking at a week after the the actual Lawsuit was filed and here you can see At that particular moment when the Snapshot was taken anyway Um xrp was 18 cents and the circulating Supplies I'll choose around number 45 Billion circulating Supply now compare That today or at least at the time that He was recording this 37 Cent xrp and a Circulating supply of close to 51 Billion so you have even more xrp Circulating and it's in a worse time for The market and xrp is still up over 100 Despite all the stuff that it's been Through and it's still in the top ten Look I think that there are enough People out there it's pretty clear Writing's on the wall we all believe in What we believe in and for damn good Reasons and we're optimistic that what Should be done will be done when it Comes to the SEC lawsuit and uh side Note I did want to mention this too Because I caught my eye uh this is a It's you know way back machine pulling Up coin market cap and they tracked the Number of cryptocurrencies in existence And at the time that this this was grabs This is again December 29 2020. there Were 8 128 cryptocurrencies tracked by Coin market cap there are now over 20 000. That's escalated quickly I would say Um and then there is this from a chart
Analyst income sharks uh yesterday at so It was about 12 hours ago uh or a little Over that uh Yeah here we go 5 27 p.m yesterday He wrote Bitcoin volume is coming in Think this could play out by end of March if not sooner and so he's noting That he's still because he's been saying For some time he thinks that 20 000 is Pretty strong support so you know the Fact that it's going there below that It's in the realm of what he's talking About and still thinks that that's going To hold that support he's very firm on That even after all of this news Um he's he's very firm on that and I I Guess I hope he's right you know and Then he had an update at 903 PM just a Few hours later noting that Bitcoin at The time anyway was going up and he said And there's the start of the move up Just non-stop fear and doom and gloom at The bottom where was this at twenty five Thousand dollars which really is a fair Question but to be honest with you here At twenty five thousand dollars yeah Fine Market was a bit happier so you Wouldn't expect the scary stories anyway It's just and he's pointing out Something that just is kind of silly in General in this case because look when When markets correctly go to the Downside then whatever is happening in The moment
That is what you pinned the downside on That's the reason it happened in this Case real things actually did happen and It's caused or exacerbated the downside Move so again to be clear a lot of times When you see cryptos moving to the Downside it was just going to happen Anyway it's a bunch of irrational humans Making emotional buying and selling Decisions in this case it's that coupled With the fact that real world scary Stuff happened like I said with uh you Know the announcement from Fed chair Jerome Powell silvergate bank and Silicon Valley Bank you know going Belly Up Not terribly surprising but then he also Pointed out this which makes a ton of Sense to me he says you can tell crypto Twitter doesn't know uh much on topics Because they all just repeat each other It's a wild game of telephone now all Banks are bad everything is crashing Stable coins all are going to zero Etc Fudge spreads faster because fear is a Powerful emotion I'm not an expert on Banks but I know not all have terrible Risk management just like not all Exchanges are as bad as FTX and so I do Think he's right in that sense and I Don't know for sure if we're going to Have this Black Swan event here and it's Like a rabies already happened we just We're yet to see The Fallout here I
Don't know for sure I'm not going to Pretend to but uh I don't find that to Be probable that we're going to have a Series of catastrophic failures of banks Yes two fight just two just happen now But Most banks Like they're their their risk exposure Is different again I don't want to Repeat the video that I made but it had To do with like in Silicon Valley in Particular the Silicon Valley Bank it Had to do with where they put customer Funds and they didn't even do anything Illegal that I've seen you know just Going into government bonds and then you Know jacking up the interest rates you Know the Fed chair did or the FED did in General after the fomc meetings so you Know it doesn't mean that that's going To happen with every other in fact the The um the clientele of most banks is Not even close to the clientele of those Banks not even close they cater to Crypto Um and and uh I just it's just a different you know They're all going to have different Approaches to risk management in Silicon Valley frankly Silicon Valley Bank they Did make some poor decisions not that They broke the law but they did make Some poor decisions that ultimately led To their demise as I cited in an earlier
Video So does it make sense to actually Panic Are we going to have that Black Swan Event are we going to have this wild Card event that causes prices to go Lower Maybe but I just I don't see it yet I I Don't I don't see it yet are we just Going to keep having a chain of I don't See why that would happen though There's there are there are a select Number of uh crypto friendly Banks and That's not most banks because look if You're gonna have their own if you were Gonna have a series of banks go belly up Just in the United States just in General which I do not believe is about To have I do not believe that If if that were to happen yes that would Cause panic in all sorts of markets Including equities and then crypto would Follow and yes you'd have a disastrous Move to the downside maybe you take it Out to a noodle is is that probable you Know is usdc going to cease to exist Well there's been a run on it but I I Just I'm not convinced it's going to at This point because I don't have data That would make me think that that's the Probable movement I announce it's Possible is that going to happen now I don't think it's probable at this Particular point in unless usdc is Outright line uh it's in all light you
Know in terms of it being back the way That is it should be fine the biggest Concern is the amount Of money that it's backed by held by Silicon Valley Bank is that enough to Absolutely make it cease to exist would There be a run on it to the degree that It would actually literally get to the Point where now confidence is Irreversibly destroyed I'm skeptical of that I'm just saying so That's why like I'll I'll I like to hear The disaster scenarios from people that Believe that there's something like That's possible and so I'm going to Share it with you I'm not sold on that Concept though So look at this headline from the daily Huddle over 460 billion dollars in Bitcoin and crypto could evaporate in Worst case scenario wherein's analyst Benjamin Cowan so this is what he's Talking about here is truly some Disaster type stuff And I try to I try to Never Say Never When it comes to crypto so I guess I'll Technically do that but I do not think That this is what we are going to see Occur but again this is a popular Analyst uh with one of the biggest Crypto YouTube channels on the entire Damn Planet let's see what he has to say Widely followed crypto analyst Benjamin Benjamin Cowan is identifying a worst
Case scenario for the crypto markets as Prices spiraled downward and a new Strategy session Cowan tells his 784 000 YouTube subscribers that the crypto Markets could give up hundreds of Billions of dollars in a correction Similar to the.com collapse quote there Are a lot of similarities between the Tech stock collapse back in the.com Era And the crypto collapse that we're Seeing today end quote Colin looks at The performance of the NASDAQ during The.com era and draws parallels to Today's crypto markets he uses the Market rally and decline percentages From the.com era to indicate where the Total market cap from Bitcoin and other Cryptos could be heading according to The analyst the total market cap for all Of all crypto assets may be in a Position where it Witnesses one more Capitulation phase Similar to what happened to the NASDAQ In 2022 when it crashed by about 30 Percent before bottoming up and so this Is one thing I actually did mean to Mention in my video earlier where I was Talking about Silicon Valley Bank we Don't know what the Fallout was going to Be Um the one thing I I wanted to mention That could happen not that I wanted to But could happen is there is a potential For a bank bailout and if that happens
Uh in theory could avert this you know Some sort of Catastrophic fault that he's talking About here but even without that I'm not Necessarily convinced that it's going to Happen I mean maybe I mean you are Talking about Um 90 I think it was 97 of deposits at Silicon Valley Bank not covered by FDIC Because it it they exceed that 250 000 Threshold so they're not covered So but is that enough would that be Enough to just take down crypto to that Degree because look if crypto goes down To that degree I'm thinking equities are Taking a major beating too So again I'm not sold on this narrative But I'm just sharing it with you but Here's this quote Where would it put the total crypto Market cap if we went 30 percent lower Below the prior low it would put the Total market cap at around 500 billion Dollars which represents a sizable Correction from the current levels That's 30 below the prior low from the Current levels that would represent Another 40 to 50 correction and again we Know that these percentages are subject To slight changes like it's not going to Be exact so maybe it could be 40 down From here if it's going to follow or Maybe it could be 50 down and you get And get you closer to 400 billion
Dollars folks again we're a little shy Of one trillion right now too so we go To 400 to 500 billion that would be a Massive but that'd be a massive hit Um now I will say should such a thing Happen which I am not convinced it will But if it does yeah I'll I'll be like I'm here for it I'm here rain or shine Anyway but I'll tell you I buy during Capitulation events because I don't ever Believe it's the end of the world I Believe that others believe it's the end Of the world during those events and Since I disagree I take advantage of Reduced prices and I buy stuff that's it And so if this happens I will absolutely Be enticed I still have a boatload of Capital on the sidelines just in case Such a thing happens I deployed a chunk Of it in in November and I publicly Spoke about that one day I was like okay Everybody's fearful I'm gonna buy into The capitulation of it and I'm glad I Did if we actually get another major one Okay because I understand that however Long it takes and I don't know You know markets still going to turn up It's not the end of the United States Economy it's not the end of crypto Things don't bounce back so when they're Cheap I'm gonna buy because I have a Boatload of cash on the sideline that's Exactly what I'll do so I'm here and Happy either way it's going to be fun
And if we don't get that opportunity you Know my backs are seriously packed I Just I'm happy either way I really am It's just like let life go on and just I'm just going to experience it I don't Get to control it I'm just living Through it and then there's this Elon Musk open to acquiring collapsed Silicon Valley Bank I don't feel the need to read the Article I just kind of wanted to make The point we'll see what happens I just Want to mention it basically but Somebody wrote on Twitter I think Twitter should buy Silicon Valley Bank And become a digital bank and then Elon Musk said I'm open to the idea okay so Again if it were anyone else you might Roll your eyes but it's Elon Musk and That's that's That was basically the same style of the Opening that led to him ultimately Purchasing Twitter for whatever was 44 Billion dollars or whatever the Outrageous price was and he got the Loans for it and all that crap so the Idea of him if he's saying that I don't Think that he's just saying it to say it Doesn't mean it's going to happen but That would be interesting that would be A truly interesting Dynamic and I also Um I'm somewhat skeptical though because This is different than just buying Twitter this is like when you're talking
About a bank the federal government is Restrictive as to who can actually Purchase a bank especially in a stressed Bank like that so I don't know if he's Even looked into it so maybe he's dead Serious but he may not have looked into Whether or not it would even be possible But you know I'd imagine With him being Elon Musk uh in terms of Getting the funds together to pull Something like together if he really Wanted to do it you know outside of any Sort of restrictions from the government This or that if he really wants to do it Maybe he really could do it So it's just another thing to consider It's just a crazy world it's like the Number of ridiculous developments over This past week It's just It's rare to have a week like this with This number of real things so like the Volatility happens all the time you get A volatility like this to the downside Like okay well it's crypto but to have These like Like this stream like day after day After day and there's new news that's Horrific every single day I mean I don't Care on a personal level because it's Just like I didn't do it I'm here I'm Just living my life uh but the fact that The horrific news is happening like this Actually is not that common I've been in
Crypto over half a decade you normally Don't get this stream of serious events That actually caused the cause of the Price to go down because it did Real World stuff here did cause the prices to Go down But I'm just look again happy to be here We've like I've been saying I'm sorry if I sound like a broken record I'm happy Why am I happy because well markets tend To Trend upward and they're going to Keep doing that I firmly believe that Despite massive pullbacks however long It takes and this year even in the short Term I think we've got a lot to look Forward to in all likelihood in terms of This secv Ripple case ending I'm very Optimistic it's going to be to the Positive xrp hopefully relisted uh you Know United States exchanges and you can Imagine what that'll do for Price action So a lot to look forward to still I'm Just not gonna lose sleep over this crap Like a lot of you you know the typical Retail speculators out there do I just I Just look at the world differently in Them I'm not a financial advisor you should Not buy yourself anything because of Anything I say are right that would be a Very very very bad idea until next time To the Moon family sedan
