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Hello this is Matt on the moon Lambo Channel only a couple topics I want to Talk about in this latest Moon Lambo Hot Jam I'll start with a couple Perspectives from xrp chart analysts Including one who says that uh the level That he sting here is really the only Level that ultimately matters um and That's on an xrp USD chart you know if You consider an xrp BTC chart uh that's A whole different ball game because that One's starting to look very interesting As well because it looks so dismal for Xrp but like I keep saying in recent Videos you probably heard me by now I'm Intentionally repeating this a lot uh When that happen when you have it Looking like it's in the gutter xrp BTC Historically that has been the moment When it just shoots to the upside um I Also mentioned in a previous video that Um there's perspective from an Individual um explaining why he believes That this time is a little bit different This Market cycle you know because what We've seen right now Bitcoin obviously Recently hitting a new alltime high Twice within the last several days here But then immediately you know the Liquidations Cascade on down you you you Guys are well aware of that Right but why have altcoins been moving Up not all of them but why have a lot of Altcoins been moving up while bitcoin's
Been moving up isn't that a little bit Strange and the answer is yes that's not What we've seen but this is um the first Reasonable explanation I've seen as to Why that's the case coming from a Thoughtful reputable source and so I Wanted to share that with you because This is one of those things that's been Different everybody in in in crypto has Been talking about this I know the Blockchain backer for example has been Talking about this a lot it's like and He's right like this actually is Different this is not what we've seen Normally you see Bitcoin run then money Rotates into large caps midcaps small Cap so and so you know rinse and repeat But that's not what's happening now We're seeing altcoins take off you know I mean and I noted this in the previous Video too like you you've got the meme Co you got do and shib in the top 10 Coins by market cap what fresh hell is This you know like we we haven't even Seen Bitcoin um have a sustained break Above all-time highs yes it's broken Above alltime highs twice but then Precipitously falls down we haven't even Seen it break above and sustain that for Any notable period of time and you still Got meme coins two out of the top 10 Spots taken up by meme Coins I'm here for it it's pretty funny Anyway before going further though 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 who enjoys Making YouTube videos about crypto Related topics but just as a hobby and Just for fun and so here's a post from Chart analyst cryptos xrpusd chart here And he said the only level that matters And that's where this blue bar is Hovering around save roughly 62 cents Here and it is fascinating you mean you Can look for those you that are are not Looking I'll just describe part of it Here you can look back to like the end Of 2020 when xrp finally breaks out here And there this this level keeps being of Substantial importance because it keeps Flipping from being resistance to Support to resistance so on and so forth And so you can see at the end of 2020 This resistance level you kind of broke Testing up against it went back down Tested it again back down and then broke Out here and then back down and at this Point now that same level is support and It went way back up and then it went Back down and it's support again but Then it fell through that support level So that became resistance again and you Can see I mean if you want if you want To take a look just pause here take a
Look at it but this is where we're at Right now and so we're hanging out you Know uh above that right now right so at The time I'm recording this it's right Right around there 62.2 Cents so kind of a crucial moment and Then so you consider that with what's Happening on the X RP BTC chart another One I've been talking about a lot Intentionally on the channel uh recently Because we actually are at the moment Where like you need to be aware of this And so you have a chart analyst JD Writes xrp BTC Moment of Truth last two times we tested trend Line it bounced off it leading to the Parabolic phase will we bounce off and So again we are at that exact moment Here and there's no shortage of analysts Highlighting this with their own charts Like I keep I can't find an analyst that Thinks this this isn't of supreme Importance and historically this Absolutely has been crucial dating back To like 2014 this is where we are now and So Eventually what happens is xrp becomes Worth so much less compared to bitcoin As Bitcoin takes off Market takes not Like the smart individuals out there Like wow this is a pretty big gap here I Don't think this is going to last and People start buying it and then more People copy those people and then more
Copy people copy those people you get a Big ass green candle and then all the Idiot retailers fomo into it this is What happens with well coin after coin After coin but this is the moment Specifically historically on the xrp Chart where it makes sense for this to Be happening it doesn't mean today or Tomorrow or next week necessarily but Sooner than later this is the moment That we're at right Now um now as far as why we have been Seeing coins take off in a way that's a Bit different than the past um this is The first good uh theory that I've seen On this it comes from uh Matt hugan CIO Of of Bitwise you know with the U spot Bitcoin ETF uh this is this is a sharp Individual here and I found this Perspective to be insightful and it's The first reasonable explanation of that I've seen anyway of why altcoins have Been taking off while Bitcoin has been Taken off and beforeit Bitcoin has Blasted off new alltime highs which Again it's never happened before but It's happening right now and I came Across this thanks to um xrp Community Member Frey so shout out to Frey for Tagging me in this along with chart Analyst credible crypto I do appreciate This and I found this thread in Incredibly insightful so I want to run
Through this real quick and so here's What he had to Say lots of discussion out there about The early start of alt season and some Surprise that it's happening given Bitcoin is only up a few hundred% from The lows some thoughts in my opinion the Primary driver of alt season is a Classic wealth effect crypto natives Make money in Bitcoin feel rich and then Look for more speculative assets to Invest in this happens in the Traditional Fiat economy as well where People make money in large caps and then Start investing in small caps VC Etc They also make more trips to Vegas Market rotation and wealth effects are a Tale as old as time okay so I'll pause Right here and what he's saying right Here that part technically we we already Knew because even before this cycle we Already knew that money started at Bitcoin and then as people recognize wow This is just done incredibly well for me Uh my investment is in Bitcoin has been Fantastic people will then sell that and Either cash out to you United States Dollars or the you know their fiat Currency of choice or what they will do Is they'll find coins that haven't moved Up dramatically yet invest in those so They'll go to large caps then midcaps Small caps and then rents and repeat so That part we already know and so that's
What he's citing here but when he cites The wealth effect this is the part that Is different this time so let me Continue with his explanation here he Says what Catal catalyzes alt season is Not the percentage return of Bitcoin but The cumulative size of the wealth effect And since the November 2022 lows Bitcoin's market cap has grown by $1 Trillion $1 trillion do is a lot of Money by comparison in earlier Cycles The amount of wealth generated by Bitcoin rallying was smaller on an Absolute dollar scale at this stage in The cycle even though it was larger on a Percentage scale so wealthy crypto Investors are starting to take some of Their Bitcoin wealth and move it into Altcoins given that many of these coins Are relatively small in size it does not Take much money to significantly Increase the price folks that as soon as I read I was like that just makes sense Doesn't it that's a pretty damn good Theory the wealth effect yes and so we Already know humans behave like this but The point is for forget about the Percentage gain the reason it seems to Be happening sooner in the cycle is Because in terms of absolute dollars That that are in profit for people it's Already here forget the percentages Forget the the percentages don't matter In the real world because it's so much
Bigger now because there's so much more Money in crypto in terms of absolute Dollars there's enough money to flow in And when that money starts to flow into The small cap since there's almost no Money into some of these small caps and Midcaps and even arguably some of the Large Caps there there's so little money in The compared to what's in Bitcoin that You get this incredible multiplier Effect for those Coins that's what's happening right now I think this is highly plausible right Don't you if you can poke a hole in it Then let me know in the comments section But anyway he Continues more wealth means more money To trickle down to more Projects Um uh an added Catalyst and a more Exciting one is that the tech infra for Altcoins is significantly improved over Past Cycles things like the dinkin Upgrade on ethereum and the rise of Layer twos are real technological Advances that make non-monetary or Tangentially monetary uses of public Blockchain much more interesting than They were in the past combin the Historically large wealth effect with Better Tech infrastructure and you get What we're seeing now with a strong Altcoin rally importantly I do not think
This means either the bull market or alt Season will end early the reason is the Bull market is different from prior bull Markets in one important way Historically alt season capped the rise Of Bitcoin as marginal Capital shifted Out of Bitcoin into the rest of the Market but bitcoin's 2024 rally is being Driven by entirely new money non- crypto Native money flowing into the ecosystem Via ETFs and so folks even though it's The case that the ETF money that money Can't cycle into at least not easily Can't cycle into alts because they'd Have to literally sell the ETF uh which Would be done on like a traditional Platform because you're talking about The New York Stock Exchange Z and so Forth and then you have to take that Money and then put it on coinbase but The people that bought the Bitcoin ETFs Like those are not people that have Cryptocurrency Exchange accounts right But the point is it still drove up the Price it was a factor in driving up the Price for Bitcoin which means the people That do have Bitcoin Um in places like coinbase coinbase Binance Etc they can sell and they're The ones that are rotating that money Into the Alts they're the ones that are doing it Not the ETF people anyway Matt hugan Continues this suggests the wealth
Effect can be ongoing for a while as Long as more new money is flowing in Via ETFs then old money is Flowing out into Alts because I think the Bitcoin bull Market is still in its early stages I Suspect this will be the case the result Is more of an everything season than a Classic alt season that's what we're Seeing in the market and I suspect it Will Continue one last note be careful out There lots of terrible projects get Funded in exuberant bull markets and Many are already trading at crazy Valuations there are some great projects As well of course but not everything That's going up deserves to be and so Again I think that's highly plausible if You can poke a hole in that i' be Curious to hear what you have to say About it but that makes sense to me I Think that makes a ton of sense to be Honest with you and that also means that Uh we got a wild card here in terms of What that means for xrp specifically is Xrp going to go sooner than you would Have expected in previous Cycles totally Plausible we're seeing a lot of stuff Move sooner the wealth effect Interesting right I'll wrap up here just Let me know what you guys think though Interesting topic 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
