Follow me on Twitter: @moonlamboio
SIGN UP FOR A FREE 7 DAY TRIALGET YOUR .CRYPTO DOMAIN AT UNSTOPPABLE DOMAINS
TRADE CRYPTO ON BINANCE HERE "LOW FEES"
DISCLAIMER: I am not a financial adviser. None of what I have communicated verbally or in writing here should be considered financial advice; it is not. Do your own research before investing in any digital asset, and understand that investing in any cryptocurrency is inherently risky. If you do, you need to be prepared to lose your entire investment.
Hello this is Matt on the moon Lambo Channel got a few things to share with You in this latest Moon Lambo Hot Jam Including perspective from two Bitcoin Traders SL analysts uh you'll see both Very bullish on the future of xrp it's Just so fascinating to see from people Who don't even necessarily consider Themselves part of the xrp community um In this case again Bitcoin Self-described Bitcoin Traders I'll show You uh and also I want to share with you Uh additional indicators that perhaps We're nowhere near the top of this Market cycle I need to make a big ass List I've kind of started one but before Going further I do want to be clear I do Not have a financial background of any Kind I am 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 to enjoy As making YouTube videos about crypto Related topics but just as a hobby and Just for fun all right at the time I'm Recording this video it is 558 p.m. Central Time Sunday February 18th 2024 Which means that the crypto fear Ingredient index is going to be updating In less than 2 minutes um at the time of Recording this though xrp is just a Little over 56 cents Bitcoin at $2,235 um entire asset class has a Market cap of just shy of $2
Trillion and uh here you can see this Updates in a minute so I'll hit refresh As soon as we get there excuse me uh but The Bitcoin fear and green index which Updates just once every 24 hours is Currently at 72 so we'll see what it is Um when once I hit update on this thing Um I did want to note one particular Correction here um I had been noting That there was one day of extreme greed In uh in January of this year um and This isn't a major correction but I was Mistaken on that there are actually two Extreme greed days um so that that means That uh you add those to the two days of Extreme greed that we've had in February With one of them being yesterday and we Have four just four days of extreme Greet and so if you go down here for Those you care to look at the screen What I've got on on your screen is the Max timeline for the crypto fear and Greed index and one of the things I've Been pointing out is that look if if This really is the top of the market Okay so be it but this doesn't look like Typical blowoff top Mania for a ton of Reasons um and so we've got again four Days since the bottom of the cycle over A year ago we got four days in extreme Greed that's it if you look here at the End of 2020 before we even hit the highs It's like every single day was an Extreme Greed for those of you looking
At the screen you can see me scrolling Back and forth bunch of across a bunch Of dates anything 76 or higher is EXT Extreme Greed anything 76 or higher so what Gives if this really is the top and Again there are reputable analysts that Are saying no there's really good reason To believe this we're pretty much at the Top and you know Bitcoin maybe it'll Flutter about get slightly higher but uh Maybe that'll happen for several months But this is pretty much it if they're Right they're right but but I'm just Noting there are a bunch of things that Make it kind of questionable right and So the other day I shared this post and I want to repeat it real quickly for in Case anybody missed it and then I have a Couple things to add to this list which Is why I wanted to go through this again Real quick but on February 15th I wrote The Following there is excitement in Crypto but it doesn't seem like blowoff Top Euphoria Google searches are barely Up for Bitcoin and crypto no celebrities Pumping sord coins no crypto Super Bowl Ads no laser eyes no calls from family Members or friends asking about crypto We've only had two days of extreme greed On the crypto fear and greed index since The market started heading up over a Year ago so if this really is the cycle Top all of those facts I cited are very
Weird and so I stand by that if this Really is the top without some sort of Mania okay and some people are Classifying this as Mania and Euphoria I Don't see it I don't see this as Mania I've been through this in the past That's not what this looks like to be by A ton of metrics and here we'll refresh The crypto fear and greed index it's at 75 so we're not it's still just greed Not extreme Greed um here's so here's a new thing to Add to the list though this comes from Sam cahan Bitcoin is over $50,000 and Retail trading volume on Coinbase is still 85% off its high Bullish see and so this kind of goes Hand inand with what I was one of the Facts I was sharing with you the other Day May been two or three days ago but It was I think chart analyst Ali Martinez he shared a chart showing that The number of new Bitcoin addresses Being created on a daily basis has been Trending downward recently even as the Price of Bitcoin has been trending up And so he points out what this likely Means is that the price increase is Coming from the institutional side there Is no wave of new retail adoption or Anything like that not really not not Not not any sort of notable capacity and So this I I think this supports that Because here again you're looking for
For those of you looking at your screen You can see uh this is coin bases Consumer trading volume picked up in Fourth Quarter it's where has this been coming From because the coin and coinbase is a Massive massive cryptocurrency exchange And the vines nowhere near where it was Uh when we had the Mania in 20121 85% off that High so is this really the top again if It is it is and if the the analysts who Say that that's what's most probable if They end up being right okay I mean of Course I'll I'll accept it if that's Reality it just would be super weird if This was It I I just because again we didn't see A bunch of new people jump in we haven't Seen that but that's also why it's so Cool if we're seeing these levels right Now and the retail Mania hasn't even Started things are going to get a Bananas a little bit later in the year Wouldn't you Suppose and here's another thing to Consider this is from chart analyst Pentoshi uh over 754 th000 followers on Social media platform X and this chart Is the crypto total market cap excluding Bitcoin and eth otherwise known as total Three and this is going back to uh the The later part of 2017 and he writes the following yeah we
Haven't seen anything yet we could see This potentially when it's all said and Done this cycle hit a couple trillion We aren't even close to New highs yet But we are seeing the winners of this Cycle which should in theory have far More upside see and to me that just Logically makes sense because when we Saw Bitcoin in the upper 40,000 last Market cycle and into the 50,000 that that looked like Mania that Looks like it was completely insane uh You know Bitcoin Google queries through the roof All the Jazz you name it any of those Things that I named in my my post post That I just shared with you that I I Shar published x a few days ago all that Was happening but it's not right now and So you can see yes we are a fair bit Above the 2017 all-time high for total Three and where's the Mania I see a lot Of excitement I see a ton of Excitement tons of excitement but Mania Euphoria uh-uh I don't see that and you Can see here um total three if you look Back to the last Market side It's we're not even close and so to know That yes people are excited and there's A bit of greed but not extreme greed not Euphoria not Mania uh that's kind of Exciting because just looking at these Factors which I think are important to Consider it would lead one to believe
That perhaps what we're going to see a Little bit later in this year perhaps Sooner than later is is actual Euphoria it would just be super weird if We don't see that don't you think I'm Not crazy to think this right so I think I'm going to keep adding these and make It a big old list and then just present Them at some point in the future perhaps Or maybe we'll just keep bringing up at Peace meal but either way I just want to Point this out because I'm not sure if These these you know pieces of data are Particularly widely known so it is what It Is oh and there was also this and I Wanted to mention this too because look I've never been driving The Narrative of Uh Bitcoin new alltime high because of ETFs like I I thought that that was Silly I I said look I think it's going To be a sell the news event and I think Ultimately it was um and then markets Been moving back up despite that but I've also said that I think over a Prolonged period of time the degree to Which the Bitcoin ETFs will be Positively consequential is understated And I still firmly believe that and if You don't believe that then why do you Think that black rock is going to fail In with this investment vehicle because That just doesn't make sense to me and Here it's already wildly successful even
If a lot of people thought that it would Result in you know higher bitcoin price By now I didn't but it's still wildly Successful and we're barely We're barely into this so good morning Crypto posted the following breaking Black Rock now owns 58% of the Bitcoin Circulating Supply boasting a mass of 10 15,280 Bitcoin valued at over 5.1 Billion 5.1 billion in 24 days race for A crypto Revolution as us institutions Gear up to trade altcoins ushering in a New era of adoption in skyrocketing Crypto prices and so again I do think That it will contribute to Skyrock Marketing prices over a prolong period Of time but at some point uh ETF Investors they are going to want to Secure profits and maybe sooner than Your typical Crypt Bros would want to Because if you're talking about even a 2 3 4X increase over a short period of Time people in traditional Finance are Not going to be used to that they may Want to snatch that up sooner than later And but but still 58% of all Bitcoin Held by Black Rock and if you look at um All of the Bitcoin that's held by the Firms that have Bitcoin ETFs it's over 1% of the Supply son this thing just launched a Little over a month ago and and fewer Than 30 days I think if you're including Just looking at business days that's
Insane bitcoin's been around 15 years And you're talking about in roughly a Month over 1% of all Bitcoin snatched up Yeah this is going to be a thing this is Going to be a thing that dramatically Over time impacts uh the supply and Demand dynamics of Bitcoin way to the Positive absolutely Questionably here's a post from xrp Chart analyst dark Defender and this is just an xrp price Chart Great discussions on odl or Programmatic sales of xrp are going Ongoing and created significant fud Where I had no impact yeah I'll just Pause a note um I'm assuming that a lot Of you are aware of that in case you Missed it out missed out on that uh I Published a video talking about this I Guess I guess it was literally just Yesterday because I think it's a bunch Of silly nonsense but anyway then he Says meanwhile xrp preparing for for the Surge just see the 66.4 C Level and how Quickly it escalated towards an all-time High and the $2 level previously all Will unite again and I think I think That it's easy to Forget just how quick xrp can move when It really starts going and if you Weren't here in 2017 uh my God I'm sorry you didn't get To see it in person but you can still go Back and look at the data it's still out
There on charts and look at this candle This glorious xrp rocket ship here Melting Faces and that happened from uh from When it started going in the middle of December 2017 to its peak and early 2018 Lasted I think about two and a half Weeks it was fast super super fast and Everybody thought oh it's dead it's not Doing anything xrp ended up being the Best performer for that market cycle Incredible Returns so when it goes It goes we don't Control that part but you know even if We um see a couple different bursts like We we saw that I mean that's that's Historically normal we've seen we saw That last Market cycle we saw that in The 2017 Market cycle um well you know Xrp the beginning part of the year maybe Was April or May ran up from about half A penny to I think about 42 cents then Back down straighted sideways for about Half year then uh had another major Burst went almost up to four bucks uh Well we we saw that that type of thing For the previous Market cycle we saw uh When was it maybe early November of 2020 Xrp it like it was never going to move And then suddenly inside of like I don't Know if it was a week or two very Quickly though it was suddenly above 80 Cents and then back down a bit and then You know the nonsense with the secc
Happened but then it had another burst Later didn't it in April of 2021 so it's Not crazy to think that we could see Some serious action sooner than later Even if that's not going to be the top For xrp and so maybe we do see it get up To close to two bucks which is what in The short term which is what a lot of Analysts think is pretty reasonable to Suppose which brings us to this article Crypto scof field maps xrp breakout Targets eyeing 244.00 details a notable Bitcoin Trader Has provided an update on the trajectory Xrp could cart in the coming days amid The burgeoning bull season targeting a 244.00 rally and I don't really need to Read the article um let's just go Straight to the source this is what They're covering right here this is just An xrp price chart and he just simply Wrote xrp up date and so even if we Don't know exactly what he's thinking The timeline is going to be because this Isn't a good indication of that he sees Key levels of a buck 21 and $1.90 so and it's it's fascinating Because again this is somebody who is a More of a a Bitcoin guy here you can see I just highlighted his profile they Self-described trading ideas and gy Hunter Bitcoin eth Zigg so there you go and he's not the Only one they actually highlighted a
Separate um Bitcoin guy miles G Investments you can see Self-described as Bitcoin day trader 150k YouTube and um and so I don't know if He'd even consider himself to be the xrp Community but he holds a lot of it here You can see he shared the screen grab And wrote The Following xrp Holdings Update I have more and other wallets too Will trim some profits around $3 to $7 This year and so this seems to be more Of a a Bitcoin guy but uh he's he's Certainly long xrp over he as you can See on the screen here he has over 180 ,000 xrp and he's going to be taking Some profit between $3 To7 this year that's he believes it's Happening and again I don't make price Predictions I'm not a chart guy that Does not sound crazy in fact Like for anybody that's making price Predictions that's like that's among the Most conservative of estimates I've ever Seen to be honest with you U that Doesn't sound and price when it goes it Really goes I wouldn't be surprised in The least to see this this sooner than Later and of course you know if Bitcoin Really doesn't hit a new all-time high And some think that it won't I'm Skeptical of xrp getting to those types Of levels I'm skeptical of xrp getting Into getting into a new all-time high if
Bitcoin doesn't um and if Bitcoin Doesn't okay fine hopefully I'm wrong About xrp and it runs anyway that would Be fantastic I just think it would be Harder because we've never seen it Before we've never seen xrp hit a new Alltime high high without Bitcoin doing So first so we we'll see we'll see what Happens but all that to say There are a lot of reasons to think this Market's going to go way higher nobody Knows for sure nobody even the most Reputable Smart Chart analysts most Thoughtful analyst out there uh nobody Knows we're going to find out Together but I'm I'm more optimistic Than not I mean this is the most Exciting time uh for me it it as an xrp Holder last cycle sucked because the SEC Crap I mean I still had fun being a Crypto but man all that nonsense with The SEC it was what it was um and I was Super excited in 2017 but I didn't have That much xrp back then I've had a long Time to accumulate so for me this is the Most optimistic I've ever been about xrp As a holder and I've been here over six Years never sold a single xrp it's the Most optimistic I personally have ever Been and I can't wait to see what Happens here I'm not a financial adviser You should not buy or sell anything Because of anything I say or right that Would be a very very very bad idea until
Next time to the Moon Lambo
