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Hello this is Matt on the moon Lambo Channel the price action today is Comical to me oh typical leming retail Speculators here's the headline from Coin Telegraph bitcoin price drops $1,600 on hot CPI as markets price out Fed rate cut that's right folks the Market thinks it's less likely as a Result of this data that the fed's going To cut the the rate the the federal Funds rate and as a result of that Panic Ensues It's it's so stupid because if you look At the last three rate cuts from the FED Why was that happening it's because Things were horrific and Market tanked After that why why do you want that Market stop being stupid that's what We've got right now now the cool thing If you're an xrp holder though I will Note uh xrp is the only top 10 coin that Is standing firm today at this exact Moment specifically what I mean by that Is xrp is the only coin that is up Compared to the Moment In Time the news Broke this morning every other top 10 Coin is down um and for reference in Case anyone's curious It's 346 uh 3:46 p.m. central Time my time Zone which is uh it's Tuesday February 13th 2024 and I checked this like I don't Know 25 30 minutes ago so um very Recently and and I do mean this
Literally every single coin was still Down from this morning with xrp up a Good bit and Bitcoin only within the Last you know I don't know 5 or 10 Minutes about to get back to parody comp Cons compared to where the the drop Began this morning so xrp not performing Too shabby here but I I'll share these Specifics but before going further I do Want to be clear I do not 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 right I'm just an Enthusiast who enjoy is Making YouTube videos about crypto Related topics but just as a hobby and Just for fun as I record this video xrp Is at 53 3.1 Bitcoin is $ 49,7 194 so here's the 24hour chart and Um the CPI numbers came out at uh 7:30 A.m. Central Time and you can see that's Right at this moment in time this is Just a 24-hour chart for xrp price and You can see like it's xrp's up a good Bit here even if you look at Bitcoin Though and again this is the second all Best performer out of the top 10 you go To to uh 7:30 here and it's finally Starting to get back to let me get there Finally starting to get back to where it Was before the bad scary news broke Which as far as I'm concerned isn't even Particularly bad or scary but markets
Are markets and it's it doesn't always Make perfect sense in my humble opinion Because people have different opinions Uh but I went through every other coin Coin and I won't waste your time going Through literally every single one of These but here's eth just for example You can see what eth did because that's The second largest coin in market cap It's not even close it's still we down Comparatively and it's sometimes it's Just nice to visualize these things but The only reason I wanted to mention that Is because some people speak and they're So devastated because of impatience and Seeing salana and other coins take off Recently but some people are just so Beaten down they just they think like Xrp is broken or something and it's just Not true and so yeah this is looking Over a short time frame but this is just To point out because some people Regularly focus on the short term in Particular when xrp is down but what About when it's good news on the short Term like this now in reality what Really matters is zooming out if you Zoom out on a chart let enough time pass If xrp is going to continue to be Long-term viable this doesn't matter in The end it's just people have trouble With this stuff and that's the reason I Even wanted to address it at all uh so What actually caused all this well again
It it is it's it's it's no more complex Than crypto assets including xrp uh Being treated just like other risk on Assets including equities that's that's It that's it and it spooked the market Temporarily uh you know crypto moving Back on up about to where it was on the Whole many coins anyway close to where They were at least and and there's no Sign at all according to most analysts Out there there's no sign or there's no Indication that uh you know the bull Mark call it off the bull Market's over C Off uh no and just funny like this is of Course the day after Bitcoin hit over $50,000 for the first time in over two Years this is why we can't have nice Things folks anyway so the headline here From coin Telegraph Bitcoin price drops $1,600 on hot CPI as markets price out Fed rate Cut Bitcoin saw snap losses into the February 13th Wall Street open as United States inflation data dealt a blow to Risk assets data from coin Telegraph Markets Pro and trading view followed a 3.8% bitcoin price decline on the day Bottoming at $ 48,4 35 on bitstamp bitcoin reacted Badly to the January Consumer Price Index print which exceeded expectations Month-on-month CPI came in at. 3% with the year on-year figure at
3.1% so Point uh 0.1 uh% and 3% higher Than predicted respectively the index For shelter continued to rise in January Increasing 6% and contributing over 2/3 Of the monthly all items increase the Food index in inreased 4% in January as The food at home index increased 4% and The food away from home index rose. 5% Over the month an official press release From the US Bureau of Labor Statistics Read in in so quote in contrast the Energy index fell .9% over the month due In large part to the decline in the Gasoline index end quote markets Immediately began reassessing the Likelihood of the Federal Reserve Cutting interest rates shifting their Timing from March to later uh in the Year and folks that's the part that Matters most to us here in the world of Crypto so far as I'm Concerned because again rate Cuts Historically generally not very good Especially the last three times that This happened and some people do think That it's going to be a little bit Different because the last three times There are Fed rate Cuts it's like the World was falling apart like for Instance you can talk about the 2008 Financial collapse and then what Happened with the pandemic a few years Ago and some people argue that uh you Know it would be this time would be
Different because this time literally is Different and there is some historic Precedent for that and we'll see we'll See what happens there but either way uh It's it's just like this is the part That that should matter to us most in The world of crypto if because I Look To Be honest with you I've not been looking Forward to a Fed rate cut knowing what's Happened the last three times I'm just Saying that and so knowing that it's Less likely to occur in March next month And might happen way later in the year I'm like okay I don't mind that one bit You know if that's the case uh if They're going to hold off on that maybe See you know what's going to unfold for The rest of this Year um and then there's also this There's I yeah I want to share with I Got a couple things from the blockchain Backer the first one is from January 24th and then uh the next one's from Today and it has to do with this idea of Potentially topping up because if um if The blockchain backers um thesis is Correct and he's very frequently correct Which is why I'm scared about this uh You know we're pretty pretty much Bumping up against the top top when it Comes to uh you know crypto markets and End equi so if you look at NASDAQ is Just what he's looking at here he was Noting the following on January 24th
After rising over 2,000% since its Bottom the NASDAQ is now less than 1% Away from its 4.236 extension want me to Change my views on bitcoin the market Has to prove this isn't going to be a Problem and so he's saying uh you know If this starts to break the top and he Had said this before he said this a Number of times publicly uh it's not That it's necessarily 100% certainty That Bitcoin can't blaz to the upside he Just doesn't think think that's remotely Probable based on what he's seen in the Charts and I say fair enough and he may Very well be correct I don't pretend to Know but if you want him to change his Mind he's just saying you're going to Have to see this thing break above this And so what happened today this is Interesting right he wrote The Following Amazing to see NASDAQ 100 e mini Futures Precisely tag the 4.236 extension unable to close a single 1hour candle above the 4.236 extension So there he goes That's a like well Folks kind of matters and not at least At this point not exactly performing so Well so I'm hoping we continue to see uh The the stock market broadly speaking Move to the upside continue to move to The upside throughout this year um Because again this this is what matters Most to us if we're in the world of Crypto because the crypto asset class
Moves in tandem with stocks it just does They are risk on assets they're treated The same I know that the Bitcoin Max is Out there don't like to hear that Because uh you know Bitcoin is hard Money man you know like all the crap That they say I'm like okay but it's not Like the market has told you for over a Decade that's not how it's being treat It's being treated uh the same Directionally as as as risk on assets Obviously it's more volatile there's More upside potential because there's Less money in it but that doesn't change That doesn't take away from what I just Stated there there's this post also from Chart analyst Ali Martinez and this is interesting because It kind of speaks to what I've been Noting recently which is quite frankly That it like if this is the topics the Weirdest freaking top that that I've Ever heard of it for a crypto Market Because it's every single crypto Market Top has been marked with Euphoria I I don't think we've seen Euphoria where's the Euphoria in fact I Pointed this out the other day so here's The crypto fear and greed index it Updates just once every 24 hours the Next update isn't for another 2 hours And 5 minutes but it was it's at well It's currently at 79 out of 100 Indicating extreme greed folks this is
The second day that it that we've seen Extreme greed since the the market Bottomed in 2022 and even before that Actually I looked it up yesterday I Forgot where it was but if you go to the Max chart here maybe we could find it Real quick it's been a long time since You've seen anywhere close to 79 so We're looking at oh yeah no I remember Now yeah so like November of 2021 that's The last time you saw anything where we Were in extreme greed November of 2021 And we've seen extreme greed two days uh Once one day was in January and then the Other was yesterday that's it and and Certainly in terms if you look at There's other metrics you can look at Too though to kind of prove this point Though if you look at like Bitcoin Search terms uh historically that surges During uh times of euphoria we're not Really seeing a crazy uptick in that Either there just certain things you can Look at and I'm just like I don't know I Where's the crazy new money like I don't Know that we're there yet and so Ali Martinez shares this chart I think it Kind of drives the point home that uh Yeah Market's clearly happy you know Feeling a little greedy but is it true Full-blown Euphoria like we've seen in The past according to this chart no and Just subjectively me looking at the Market and I'm just one human it doesn't
Look like regular euphoria that I've Seen in the past but anyway here's what He said from a market sentiment analysis Standpoint long-term Bitcoin holders Typically navigate through a cycle of Emotions during a bullish per period Starting with capitulation progressing Through hope optimism and belief then Experiencing a brief period of anxiety Marked by a price correction following This the market re-enters a phase of Belief signaling potential further gains Ahead currently it seems the market has Just emerged from a period of anxiety And has re-entered a new phase of belief This transition suggests that we might See additional upward momentum for Bitcoin before before reaching the peak Of euphoria that characterizes the end Of the bullish cycle and and so for Those of you looking at the screen you Can already see what we're talking about Here this is going back to like 2016 I guess technically here towards The left this would be 2015 it's just Not labeled uh pretty wild right you can See how there's a dramatic shift here You know look at the price look at the Human human emotions here and and I'm Telling you it's during those time Periods it's just like humans just plow Into this I you can think about a few Years ago when we were uh Mark was Getting real hot remember that Matt
Damon Fortune what was it fortune favors The brave or the Bold I think it was Brave uh that whole thing then he he got A bunch of crap once a Bitcoin tank to The downside do you remember all the the Super Bowl man like and then all the Laser eyes and the diamond hands and all The celebrities pushing various crypto Projects and coins and crap where is all That it just doesn't look like Euphoria To me and I know that doesn't mean it's A guarantee we're going to see a push Higher but it's just one thing to be Aware of Right um then there's also this from Chart analyst credible crypto this is at 3:4 p.m. central Time today uh bitcoin Price chart here and he wrote the Following key lower time frame level to Hold in green on bitcoin for immediate Bullish continuation reminded me of this Price action from a prior consolidation Event as we were approaching all-time Highs let's see if this lower time frame Level holds and if we can form a nice Base here for continuation And so he's noting that what we're Seeing in the charts up to this point Lower time frame so that just means in The short term looks similar to what He's seeing here uh cons he labeled this Little mini chart inside of the chart Consolidation at $18,000 prior to break Of all-time high at $20,000 so of course
He's talking about Bitcoin there and He's noting that uh he saw see he put His little blue squiggle here he's Saying if it plays out like that that's Just the same damn thing and then we're Just going to see a face melting rally To the upside that's and that has been What he's been PR predicting for Literally years he's his his thesis Hasn't changed he's been sharing that You know he says the market cycle Actually started in 2018 it's a longer Market cycle than we've ever had in History it's going to end sooner than People are expecting as a result things Along those lines he's fully fleshed out His ideas and he's saying well we've Seen this this before too even on a Lower time frame so just take it for What it's worth um then there was this From crypto Insight UK liquidity Building above us too my best guess Right now I feel Bitcoin has a bit of a Flush uh finds a base and then comes up To attack the heavy liquidity between $50,400 and $50,400 Uh then probably grinds upward slowly or Could could squeeze through this area Let's see and he posted that at 11: a.m. Central Time so we've got a little bit More of the benefit of hindsight we know That Bitcoin has crept up a bit though To this point at least as I'm recording This has not been able to hit $50,000
Yet again but price price action happens Fast in crypto so it very well may uh Then there was this from E crypto Sharon Perspective from Bitcoin and this is for A little bit later in the year and this Is actually a post from roughly a couple Hours before the CPI news came out so Two hours before the market started Tanking roughly um but he wrote The Following because and again look for the Analysts that have been saying there's Lots of analysts most analysts I would Say are predicting new alltime highs Either this year or early 2025 the short-term price action is Doing nothing to change that and so Here's what Egra crypto had to say Bitcoin $2 trillion market cap September 2024 and I'll just pause a note at the Time I'm recording this the market cap For Bitcoin is 977 billion so you're Talking about roughly doubling the price Of Bitcoin in that time period And if That Happens then I like the moment we see a New all-time high for Bitcoin I'm going To be like yeah xrp's got it that's what I'll be thinking I won't know that and I Could be wrong of course but I'll be Thinking Bitcoin just hit it that's That's one thing that I think is not Pretty close to being a requirement if Not an actual requirement for exerp head Alltime high is is Bitcoin doing so
First uh I'll be feeling pretty damn Good when that happens because Bitcoin Leads the way anyway then he said get Ready for the ride of a Lifetime by September 2024 Bitcoin is set to Skyrocket past the $2 trillion Mark and It's happening quicker than anyone could Have imagined hold on tight as we Witness the crypto Revolution unfolding At lightning speed don't blink are you Might miss out on this historic moment In financial history yeah so that seems Completely plausible I don't know if It's going to happen I I don't make Price predictions I don't want to Pretend to be some sort of fake ass Chart guy um but uh you know the people That start to lose me are the people That are talking about like for this Market cycle like $500,000 Bitcoin Million dollar Bitcoin like you lose me You lose me that's not rational but You're talking about roughly doubling The price of Bitcoin if anything for the People that that um you know think that Bitcoin is get hit in alltime high if Anything it sounds conservative frankly Perfectly reasonable so we we'll see What happens we going and find out Together and again this stuff happens Really really really fast at times which Is why credible crypto is even saying Very recently that you should expect Individual months where you see the
Price of Bitcoin go up by either $10,000 Or $20,000 perhaps it says that there's Historic precedent for this and the Reason we should expect it so we'll We'll see what occurs but either way Like markets Market's not far off from Where it was 24 hours ago this didn't Spook the markets that bad but that's The breakdown of what's going on so I Wanted you guys caught up to date and Just share some thoughts I'm still Optimistic and excited to see what Happens for the rest of the year and Perhaps even early 2025 I'm not a financial advisor you Should not buy yourself anything because Of anything I say or right that would be A very very very bad idea until next Time to the Moon Lambo
