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Hello this is Matt on the moon Lambo Channel xrp almost lost a crucial Support level yesterday uh on the daily But it it didn't it I'll show you in a Second the chart but uh it went down and It just snapped right back it's kind of Like a mini little flash crash so did Something happen to xrp specifically Well as is frequently the case the Answer is no Bitcoin crashed xrp went With it Market pop back up the day is Saved basically but this is a level that We've been watching and there had been Warnings recently that if this is lost You could see a big move to the downside Uh for xrp specifically so I'll share With you perspective from an analyst That says uh no everything's pretty much Still looking good uh not that much has Changed the same levels that we've been Talking about are still in play uh also Of substantial interest I would say is The fact that the S&P 500 just hit a new All-time high on Friday and I'm going to Share with you perspective from a couple Analysts out there who firmly believe That we well a couple things are going To see a new alltime high for Bitcoin in 2024 and look I've said my piece on that If Bitcoin goes to a new alltime high I Will be shocked if xrp doesn't follow to A new all-time high also now Bitcoin Doesn't I'm a bit bit a bit skeptical on That so maybe it still moves with the
Market but new alltime high uh but one Of the analysts I'm going to share with You perspective from points out exactly How Bitcoin historically has followed The S&P 500 when the S&P 500 hits new All-time highs a spoiler alert in the Past Bitcoin has followed but on a Delayed effect so if history is to more Or less repeat or kind of rhyme with Itself at least uh we're going to have a Hell of a 2024 but uh 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 all Right I'm just an Enthusiast who enjoys Making YouTube videos about crypto Related topics but just as a hobby and Just for fun in case anybody's curious At the time I'm recording this it's way In the morning for me where I live Anyway uh 3:50 a.m. and it is what the Oh yeah it's Saturday that's right Saturday January 20th 2024 uh so again xrp here almost 55 Cents Bitcoin [Music] 41583343892 time um then Bitcoin did Move back to the upside so uh support Level was held as pointed out by chart Analyst crypto as you shared this chart And simply wrote a big xrp selloff today But good thing price bounced and closed
Above 54 Cent Support so we'll see what follows there Now uh here's the latest from chart Analyst dark Defender xrp crypto haters Are happy to see the current bleeding in Them and shorting blood thirstily it is Tedious in frustrating for most of us Waiting to see $1 and above figures for Years but on the other hand the people Here since earlier stages made lots of Profit digital assets are not similar to Other asset Behavior Dynamics in crypto The corrections as well as appreciations Are immense compared to regular assets Yeah exactly right folks so I'll just Pause to not that's why I will be as Patient as is required I understand what Is at stake here and I I that it's my Job to just be more patient than Everybody else and if I'm right on my Bet that xrp is going to have long-term Viability and the Market's going to Value it accordingly uh then I win and If I'm wrong maybe fine maybe I'm wrong And xrp goes to zero I just don't think That's what's most probable here but That is how this works and then he says Um it is repetitive for me to say xrp Still ranges between the same Fibonacci Levels with no change supports and Resistances the supports would be 52 Cents 46 cents and 39 cents if it Actually got down that low and then Resistances would be 66 C Buck 88 and
$585 so anyway the point being fine it's Repetitive but that's he he the point to Take away from this is despite all the Short-term price action which is scaring The hell out of people he doesn't think Anything's changed fundamentally and Then he says the current horizontal zone Is between 66 cents and 52 cents and This is normal until 39 cents if we go That low and by the way I've been Sharing perspective from a couple Analyst just warning that there is Potential for a drop I was talking about That in a video yesterday and I will Tell you this though if that does happen Which I admit is possible uh I suspect It's going to be led by Bitcoin I'd be Surprised if you see a substantial drop In xrp and it's just xrp alone we'll see We'll see if it happens it happens but I Got to admit I'd be a bit surprised by That and then he says the final Resistance is the dip of Wave 2 expanded C-wave whether people accept it or not Crypto is here to stay and xrp is one of The leading instruments in the world These swings are the nature of crypto This much horizontal movement is Monotonous but it will end for sure we Will still Target the same structure Below stay positive stay to yeah so I Appreciate the sentiment I don't make Price predictions and maybe he's right Maybe he's wrong directionally in terms
Of what what to expect next but I I I Definitely appreciate this idea that if You're going to make it yes you have to Not buy crap coins that is true you have To pick some winners um which is Sometimes easier said than Donaldo xrp With its actual utility I'm pretty Confident in it obviously but it is the Case that you kind of just have to wait There's a lot of horizontal movement uh Most of what it is to be in crypto is Not the exciting days where uh things Are popping off tremendously but that's Why that's why we're here that's why we Have the opportunity to make this wealth Is because people can't handle that and Then there was also this post from Scott Mker The Wolf of all streets on social Social media platform X he said people And the market end quotes are expecting A massive rate cut cycle starting in March people have been deadass wrong About their predictions in Mass for the Past few years early 2023 predictive Markets had three Cuts in 2023 priced in At nearly 100% I doubt we see Cuts soon Okay so here's why I wanted to highlight This because we're about to talk about The S&P 500 and how Bitcoin historically Has followed and knowing that xrp is Going to follow along with bit with Bitcoin like like the whole Market does That's why all of this is highly Consequential so um we'll see what
Happens with rate Cuts it's still Perfectly reasonable to suppose we are Going to get them this year he doesn't Think we're going to see him anytime Soon so presumably not this year that That's what he thinks and it is true That people are wrong about this stuff All the time he noted that the rate Cuts People predicting that were wrong uh Last year and there were people in 2022 Saying that 2023 was going to be a crap Year when it comes to equities that Wasn't the case obviously so people are Wrong about stuff people are wrong about Major calls all the damn time nobody's Perfect that's is why I'm always trying To see who has the best track record Understanding that we're speaking in Probabilities and nobody's going to have A perfect hit rate and so I do Understand that that that's that's fair And reasonable but this is important Because if we are going to see rate Cuts Typically it those rate Cuts come in Response to metrics that the FED is Tracking indicating that s word's about To hit the fan so as a reactionary Measure the FED Cuts rate historically And then markets after that at some Point do start tanking and knowing that The stock market and and Bitcoin if you Zoom out you can see they move in tandem That's consequential for all of us it's Certainly us here in crypto we got a lot
Of money on the line right I think That's fair to say a lot of us do right So if it's the case that the FED doesn't Cut rates and I don't pretend to know For sure I understand that it's it's It's expected to be be happening this Year and it very well may if it doesn't Though it would land it would lend extra Credence to this idea that perhaps you Are going to see things pop off later This year for Bitcoin and crypto markets Broadly speaking because if this happens It's actually possible and this this is The reason I want to highlight this just Give me a couple minutes here um this is Why it's possible some analysts say that We're actually going to see Bitcoin pop Off a bit later this year to a new All-time high which interestingly enough If they're right would put us back into A position where we're back in a four Like we are in a four it means we never Left it so we people have been assuming And fair enough to speculate that we're In a three-year cycle because Bitcoin Started ramping up over the last few Months um it's possible in the theories Out there that we actually just pulled That future price action forward with All this U you know crazy narrative and All the excitement surrounding the ETF But who knows let's see what what if it Is the case that things are going to pop Off a little bit later and so here you
Have a headline from CNBC I don't really Need to read the article but the Headline says it all S&P 500 rallies 1% To all-time high surpassing previous Records set in 2022 the S&P 500 closed At an all-time high on Friday as Investors returned to buying equities in Force following a short-lived Market Stumble to start the new Year okay cool to see that happy to see That what does that mean historically For the price action of Bitcoin and Again even if you don't care about Bitcoin you should you should you should Care about what happens to it Directionally because the market moves Together and Bitcoin leads the way Period that is always been the case Maybe it won't always be the case but it Has up to this point and I see no sign Of that weaken uh at this this current Moment but take a look at This um and I just I appreciate that all The analysts they're they're getting Themselves on the record we're going to See who's right and who's wrong and Again I'm not an analyst I don't pretend To know but I do find it just as Fascinating as all of you but here's the Headline from the daily huddle Bitcoin Is just months away from a new all-time High according to this indicator says Analyst Kevin spinson cryptocurrency Analyst and Trader Kevin spinson is for
Casting the potential path forward for Bitcoin over the coming weeks and months Spinson tells his 71,3 YouTube Subscribers that the S&P 500 an index Tracking the stock performance of the Largest 500 listed companies in the US Has previously served as a leading Indicator for Bitcoin ahead of reaching A new all-time high and so this is the Important part even if you only care About xrp or whatever your favorite Altcoin is just check out the check out The the analysis here here's the quote The S&P is always leading Bitcoin on the All-time high breaks and this is a good Sign because Bitcoin is still 40% below Its all-time high and the S&P is right Near its alltime high so if you look Back in time the second having 2016 the S&P 500 broke its all-time high during The second having and about seven months Later Bitcoin broke its all-time high That was about a 7mon Difference in the third having in 2020 The most recent having the S&P broke its All-time high and about uh four months Later Bitcoin broke its all-time high End quote so there those are the the Historic differences over the last Couple Cycles seven months four months So if it's four months um that would put Us in the range of what a lot of Analysts are saying including analysts Within the xrp
Community peace continues on what Bitcoin is likely to do as the S&P 500 Index hovers just below its all-time High of um 4,796 points reached on January 3rd of 2022 spinson says and Obviously so this is before the high on Friday he said Bitcoin is likely I would Say less than half a year away probably About four months away from its all-time High so if the S&P breaks its all-time High well we can be pretty sure that Bitcoin is just months away from doing The same thing and then we would be off Into this bull market that is at least What history shows us end quote so if it Follows 2016 you're looking the second Half of this year and if it follows U You know what happened in 2020 then You're looking at months away so I Understand people are afraid right now And nobody knows for sure what's going To happen and history doesn't always Perfectly repeat but we can draw upon History to to come to reasonable Conclusions in terms of probability That's the reason I'm highlighting this This is why analysts do what they do um Now this was also interesting though on This topic here uh there's a an analyst Named Octavio c not familiar with him But this popped up in my feed on X I Wanted to share it with you uh he is a Crescat Capital Partner and macro Strategist a lot of follows are know
It's 213,000 followers so apparently Some people respect what he has to say Here and he shared this this chart Showing S&P 500 performance B sector and I found this very fascinating because Something's jumping out if you're Looking at the screen you see something Jumping out the top there here's what he Had to say the S&P 500 just closed at Record levels yet only one out of 11 Sectors made new highs today Technology the disconnect becomes more Evident when considering the 5year Performance across different sectors Tech bubble 2.0 so I found that fascinating and I Don't know that that was the case for Previous cycles and um I haven't had Time to digest even on my own think Through whether or not that might have Any sort of implications for what Happens with Bitcoin this cycle um but You know frequently it's been pointed Out that um you know cryptos kind of Trade more like their tech stocks anyway Right so if that's the case that Probably doesn't look too bad right um But I you know I I'm be curious to get Additional perspective uh from analysts You on this topic so if I come across That in the coming days I'll be happy to Share with you thoughts from various People here because again I just I'm Just like the rest of you I don't know
For sure what's going to happen I want To find out and I'm curious so I love Researching perspective from Al sorts of People and uh and sharing my own Thoughts just as a non- analyst because It's fun to talk about this stuff but Suffice it to say I am optimistic that The Best is Yet ahead in 2024 it's Probably going to be completely nuts uh You know this ETF stuff like I've been Saying bogus narrative I never believed That that was going to be anything of Consequence in the short term although I Do think it matters over the long term Spot Bitcoin ETFs but Regardless I would be very surprised Given all the Dynamics that we've been Discussing as a community I'd be very Surprised if we don't see some serious Fireworks sooner than later so uh sit Tight here but one day we're going to Wake up and that xrp is going to be Running along with the rest of the Market frankly but specifically I'll be Looking out for xrp because it's still My largest holding by a lot 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
