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Hello this is Matt on the moon Lambo Channel what a wild freaking ride today Has been absolutely insane and I'm here For it I know you are as well my gosh Obviously what most people are talking About today well I mean guess Technically a number of things but all Because of Bitcoin Bitcoin uh rallied up To like $64,000 uh inside of a 24-hour period Bitcoin increased by about $8,000 Freaking dollars freaking freaking Dollars xrp had a little bit of a ride On its own uh of its own uh ended up Above 60 cents crashed down to 54 cents Now it's back a bit higher it's actually About where it was when I was recording A video about 24 hours ago uh coinbase Went down got to talk about that and I'll just I'll say this at the outset Like recurring issues ever since at Least when I jumped into crypto in 2017 And so that's why I was like guys you Don't even really need to keep checking The prices of your crypto if you want to Know what's going on just try to log Into coinbase and if you can't then Things are really good CU they can't Handle the traffic during these times of High consumption absolutely freaking Crazy uh and so clearly uh the Bears are Rethinking their analysis at this Particular all the the CH guys because This is insane what has happened like
And and I understand like as far as the The the chart analysts who have have Been bears go um it's always about Probability of outcomes so a lot of them They're again they were just saying they Didn't think it's probable so I don't Think that we should be giving them a Bunch of crap over this unless it's the Cappo type that will'll just never admit That he was wrong and then we'll just be A Perma bear like okay fine that's a Little bit different that's somebody That I'm not going to go to for any sort Of reasonable analysis here but for Anybody else um you know once you've Gotten through these levels an Obliterated resistance I think it's kind Of like all bets are off at this point I Think that's what a lot of them are Thinking at this point uh so exciting Times ahead and doesn't it just make it Look like that more probable that we are Going to see Bitcoin at a new all-time High and if that happens you know what That means for xrp I just I would be Shocked we're going talk back xrp for Sure but I would be shocked if xrp Doesn't hit a new all-time high if Bitcoin Does oh my God everything is just like Teed up about perfectly 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 Right I'm just an Enthusiast who enjoys Making YouTube videos about crypto Related topics but just as a hobby and Just for fun look these these days like This few and far between but my God it's Fun I absolutely love This and so as I record this xrp is 58.3 Cents now about 24 hours ago when I was Recording a video maybe it was just over That um xrp was 58.5 cents so despite All the volatility xrp is about where it Was 24 hours ago of Course um but that's not a bad thing We're going to talk about that uh Bitcoin $61,800 4,000 uh here you can see on Live coin watch if you look at the 24-hour high it's reporting it was 63526 bucks but I don't know how or Where they're pulling their data from And so any website you go to that is Indexing the stuff is going to pull it In different ways and so I think it may Have just been individual markets that Actually hit 64,000 and not necessarily Every single exchange on the planet uh Which is perfectly fine and perfectly Normal but um man 24-hour low $557,000 and when I when I checked this U just a little bit earlier cuz again It's a rolling 24-hour period uh the the The swing from low to high it was almost
Exactly $8,000 so I know it doesn't Quite show that on the screen it's more Like 7,000 if you look at what's on the Screen right now I I I swear I saw it Right before record a little bit before Recording this and that's what it was Massive insane here's the 24-hour swing For xrp 54.9 cents uh was the low and um High of 60.5 and look there were people when This crash happened this is not Something specific to xrp but of course As soon as this happened I saw people Freaking out saying oh this isn't normal And people immediately some people Immediately going into conspiracy theory Land this isn't normal uh somebody's Pulling the strings behind you know Behind the scenes uh and somebody even Made a video highlight like this is just Not normal somebody's doing something It's like lever Longs out flush boys Like that that's that's what happened More on that in just a second here but Nothing bad or weird happened Specifically to xrp okay it's leveraged Traders getting wrecked on an incredibly Volatile day that's what happened uh Here you can see the crypto fear and Green index at 80 out of 100 so we are In extreme greed not surprised to see That obviously uh here's a a post from a Very popular analyst invest answers 182,000 followers on X writes Bitcoin
Shatters expectations nearly hits All-time highs before the having a first In its history from $50,900 to $64,000 in 48 hours amid extreme Greed with only 49 days to go we are Witnessing the Prelude to an Unprecedented rally folks that is crazy In a 48 hour period about 13 ,000 Increase for Bitcoin that wasn't Supposed to be able to happen but here We Are again I'm for it man I'm here for it Chart analyst Ali Martinez at 10:56 a.m. Central Time posted the following here Not can make what you screen grab full Screen also he said there is literally No resistance ahead of Bitcoin all we See is a major support while between $54,500 and $56,700 where $93 3,540 Addresses bought nearly 500,000 Bitcoin So that's quite a level um look and I'll Just tell you this like a lot of Analysts that I follow and I I just for The sake of time I I never pull up every Single anide that would be an Outrageously long video but what I've Seen from analyst after analyst after Analyst at least from the ones that have Been uh calling for these types of Bigger moves for Bitcoin and are calling For alltime eyes and I keep seeing is That the expectation broadly speaking is That even if you consolidate here for a Little bit we are going to be seeing
Probably in coming days um you know Perhaps less than days um a massive move To the upside and ultimately taking out That all-time high for Bitcoin a little Shy of $70,000 now that is going to be crazy to See Bitcoin and price Discovery again if We get that and it's it's Just what a time to be in crypto and Look at this from Eric balunas that name Should sound familiar to you by by now Senior ETF analyst for Bloomberg um and He shared the following at 11:31 a.m. Central Time he wrote Gee's only halfway Through trading day and new nine Bitcoin ETFs have already broken their all-time Daily volume record with $2.6 Billion we got four Bitcoin ETFs in top 20 ibit which is black rocks is number Four overall it's going to trade more Today than it than in it first two weeks Combined this is officially a craze now Folks how many people were expecting This to be the case uh this type of Volume over a month after the the Bitcoin ETF products launched not not Too many people um it's it's honestly It's much more consequential than what Pretty much just about anybody was Calling for that I've seen anyway the Expectation was yeah there' probably be Some excitement right out the gate and There was a fair bit I think that's That's reasonable to say but it's it's
Increasing now like it's increasing That's incredible and yeah it was a sell The news event but if you look at the Actual volume for the product it's Always been pretty damn impressive here And so a credible crypto reposted that And said the pump is literally not going To stop gota love this uh here's another Post from James uh this is from James Seafort another one of the ETF guys also With Bloomberg he shared the following At 1:31 p.m. the Bitcoin ETFs are Absolutely demolishing their prior Trading volume uh record from day one We're at $ 6.28 billion and there're still 90 Minutes left of trading folks again Absolutely crazy uh and then here you Have this at 3:13 p.m. central Time Eric Bis wrote the new nine doubled their Volume record set Monday with just about Six billion traded ibit LED with $3.3 Billion of it Fidelity did $1.4 billion Of it both double their previous records The total number of Trades was double Two over half a million individual Trades between them I bet a loan greater Than QQQ that's crazy that is absolute Insanity Whoa and here look at this headline uh 638 m300 th000 in liquidations Rock Crypto markets as bitcoin's Relentless Rally reaches new height So again that crash we saw with xrp
Today just it is not the case that this Is something specifically horrifically Wrong with xrp uh it happened with bitco I mean the whole Market my god well it Doesn't matter I need to pull up Anything for this we all know what Happened prices going ballistic market Crash people got liquidated that that's What happened and so credible crypto was Explaining this and he says it's Actually very good and very healthy Thing um and he said um this is at what Time 12:24 p.m. central For some context about this liquidity Flush open interest has been wiped back To the levels uh we saw at $46,000 for Bitcoin obviously uh taking out both Longs and shorts in one aggressive move This is very healthy the lower open Interest is as we climb the better this ShakeOut sets the stage for higher Faster now that we've removed some froth Off the top and so think about that the Froth cut off thep top here is a bunch Of people uh got liquidated because They're playing with fire which I always Think is ridiculous but hey people want To lever long or short whatever I will Never play with like in this asset class Do you really need to do that the most Volatile asset class in the entire Planet allowing for life-changing wealth And relatively short periods of time and That's not enough for you like I always
Think it's insane but people people are Going to people go people you Know but um anyway so with some of the Froth being gone and seeing that Bitcoin Is above $61,000 Incredible crypto's got a pretty damn Good point taking away some of that Froth like there's a reason that he is In full bull mode he's like no this is Just going to keep going this is Absolutely just going to keep going even If there's a little a brief period of Consolidation it's going to keep going And that seems to be the the maintained Perspective there here you can see Crypto Insight UK uh shared this xrp Price startart same situation here he Wrote absolute nuke candle on xrp Flushing out the late lever Longs it was bought up quickly so far With big volume it makes the xrp VB BTC Chart drop right into my area is it time To send and so again viewed as a very Bullish thing and we've been talking About how xrp's increasingly looked Worse against Bitcoin and how Historically that has been a a crucial Moment in terms of price action for xrp It's been very good when you get I know It's it might sound counter intuitive if You're new to crypto but look on a damn Chart if you look at an xrp BTC chart When it when there's that level of Dismal performance against Bitcoin for
Xrp that's the moment before it sends And go rock it to the upside because the Gap can only get so big before people Start recognizing wow that disparity is Gigantic I'm going to take advantage of This and then it happens and then Another person does it and the next and The next and then eventually get the Fomo the file the leader stuff and takes Off multiple instances throughout History where that has happened so the Fact that there is this discrepancy Let's say between xrp and Bitcoin in Terms of performance not worried in the Least not even a tiny little Bit uh and then there was this from Chart analyst credible crypto so if You're wondering when's xrp going to go Uh just just sit tight baby girl it's Gonna be okay here's what credible Crypto said tons of people in my Comments asking about their alts and When they will move folks I've said a Thousand times Bitcoin will lead alts Will follow sometime shortly after new Highs are made so if you're sitting in An ALT that isn't moving but looks good On higher time frame it just means you Need to be a little patient that's all Just be patient and in the meantime buy Some Bitcoin or something so you can Enjoy their ride to new highs your alts Will follow after yeah and then look so Xrp as articulated by credible crypto in
Recent days xrp does look good on the Higher time frame and he does believe That xrp highly probable going to exceed 10 this rally yep just got to be patient Let just look let Bitcoin do its thing If it's really going to hit a new Alltime high let it do its thing alts Are going to follow xrp historically Lags behind just let it do its Thing that'd be Fantastic then there's this from uh my Fellow xrp YouTuber the blockchain Backer he shared the following at 4:19 A.m. so mind you this is before the Biggest of the fireworks for Bitcoin Went off what 418 let's see what the Hell price that was so that would have Been yeah okay so Bitcoin was just over $59 9,000 which I think is what um Blockchain backer is actually Highlighting in That yeah here we go so we shared this Bitcoin price chart and he wrote Congratulations to bitcoin all retraces Poked through what an incredible Accomplishment something I definitely Thought was not probable $59,000 and U and that's true so um you Know if if if you're an intellectually Honest uh chart analyst as of course the Blockchain backer is then you know you Acknowledge when when levels are broken Through because it's not something that He even needs to feel ashamed of like
What he's what he's just to be clear and I'm kind of pushing back against some of The negative stuff I've seen towards him Today because I think some of it's Unjustified and unfair he was talking About probability of outcome and he had Perfectly reasonable um explanations and Rationale for why he didn't think this Was probable while never saying it's Impossible or couldn't happen and I Think that that's what you should want From somebody for anybody in your life That you're going to trust you want Intellectual honesty and he's got that In Spades so um you know the the the Fact that this has happened doesn't mean That he no longer has skill or Talent That's not even remotely what this is But you read some of the comments some People are just being jerks and so I Just kind of wanted to take a moment to Push back against that because I think a Lot of it's actually unfair right you're Not going to have uh you can't because You're you're talking about in terms of Probability outcomes you're not going to Have 100% hit rate because sometimes the Improbable happens sometimes the Improbable happens there you go and and That's what he's saying happened here uh Here's another post from the blockchain Backer 730 7: a.m. to understand the Uniqueness of what's Happening Here with Bitcoin number one pre-block reward
Having never happened so he's talking About the fact that at this point in the Cycle before we've even seen the the Bitcoin having occur which is going to Occur apparently on April 20th um to Have this a move like this for Bitcoin Before that this is unprecedented that's What he's saying here number two a tight Monetary policy environment never Happened three no expansion in the stock Market never happened it's a truly it's Truly a wild moment yeah and um that's Why I uh myself brought this up um for Each of the last two days because I was Like that seems like these are legit Concerns perfectly reasonable for him to Brought it up recently and then again Today to just acknowledge well okay Hasn't happened before but now it has Right that's perfectly reasonable here I Mean and I told you guys just inin the Last couple days uh I was still I said That I still leaned in bullish but I Said I'd have stronger conviction if it Were the case that the stock market were Expanding because um historically that's What we should expect and I mean yes Technically you're getting new highs With the Dow Jones and S&P 500 but it's From like two companies you know so it's It's not the broader you know broader Stock market that's that's just been Rallying I mean look at like I was Mentioning the Russell 2000 for example
Not exactly doing so Hot so I think that the the critiques um That the blockchain backers had about The this environment and bringing up the Concerns completely reasonable Absolutely completely Reasonable um then at 7:27 a.m. this Morning Central Time blockchain backer Wrote this is the kind of environment That has historically sent altcoins out Of control and so folks we've got some Fun stuff to look forward to this is Going to be the best we deserve this Especially we here in the xrp community Cuz godamn it we have gone through some Since the last few years freaking Kim Jong Ginzler uh here's a post from chart Analyst JT and um he's another analyst Perfectly reasonable what we he was Saying he thought was probable uh but he Acknowledged that he was wrong and he Wrote this post which I just thought wow This is intellectually honest person so I will continue to trust him um because He you know you look at the cappo types Ill cappo of crypto my God I'm sure many Of you are familiar with who he is over 800 thou 800,000 followers on X and he Gained most of them Le huge chunks of Him because he was bearish in January of Last year screaming that bitcoin's going To $12,000 and he's been screaming Negative outlooks since January of last
Year the whole way up he's just Screaming and crying about and it just He's been wrong every step of the way But he will not admit that he's been Wrong he just won't do it he just keeps Being u a bar it just doesn't make sense It's hard for me to believe that's Intellectual honesty honest like it just It doesn't make sense cuz it's not like I lose respect for people if they're Wrong we're all wrong I'm wrong you're Wrong people are wrong sometimes and and Even here we're just talking about Probability of outcome so it's a little Bit different than just outright being Wrong in terms of what you thought was Probable okay but um but that's why when You see something like this I'm like Yeah okay but anyway so chart analyst JT Said Bitcoin monthly candle orange line Was me 786 FIB the text in the box is Also me and he wrote I was wrong for Those of you not looking on the screen Grab and then he wrote while I've while I've missed an incredible 25% plus move On my Bitcoin bag I congratulate those Of you who have made it I mean that and I'm sorry for creating some doubt and so I just got to pause I don't think he Needs to apologize for creating doubt He's just being intellectually honest he He put some warnings out there he he Defended his position he said I don't Think it's probable not that it's
Impossible I just don't think it's Probable that's what you should do so he Apologized for that I don't really think He needed to but nice sentiment Nonetheless and then he says uh but like I stated before if I am ever wrong I Want to be man enough to admit it and be Sure straight up with my virtual friends Here the good news for my error is that My alts have helped me out immensely so Maybe it's the Lord's way of humbling me While at the same time doing so gently With helping me gain with my alts now For the really great news alts are going To rip higher once Bitcoin settles down So if I'm going to be wrong let me be Really wrong and fair enough so I Thought was a good post um and and yeah The idea of alt Ripp into the the upside I I can't find an analyst that doesn't Believe that's going to happen it's just That pretty much everybody says yeah Bitcoin's going to lead the way first But yeah this is going to be my God We're talking about 2017 level Insanity Area like if this if it unfolds like This and we we're close we got to we got To wait to make sure it happens but We're Close uh so here's ill Capo of crypto This the guy I was talking about 83,500 Followers on X and here you can see February 23rd and this is aged like a Fine milk he wrote I have taken profits
On all altcoin positions I'm totally out Of the market now ouch ouch Perma bear Man since January of last year and so Again I don't care if people are wrong We're humans we're going to be wrong From time to time it's just I I it's Just really tough for me to believe that He believes the stuff he's been saying For the last you know 13 Months I I just he kept just I think he Just kept hoping well at some point if I Just keep saying it it will be true and Then I'll say there see I was right it Didn't turn out like that you know he Was screaming uh $112,000 when Bitcoin Was $155,000 and it went up to $64,000 Today Yike singular Yike no that's plural that's plural it's In 13 months yikes Plural here's an xrp chart shared by Analyst dark Defender xrp visited our Support levels and started to form the Third Wave by hitting midlevel Orange Resistance uh third wave targets 91 Cents expected targets 64.6 cents on March 1st uh 77.7 cents to 91.9 cents around March 10th through 13th and note that um he Posted this this morning at 3:03 a.m. Before the greatest of the fireworks had Really gotten going for the crypto asset Class uh but he's been pretty consistent In terms of what his expectations are
Price-wise and when you see developments Like we had today it becomes easier for People who let their emotions get the Best of them to see maybe it is possible That's always the type of stuff that Happens cuz xrp was Climbing it's and again just let Bitcoin Do its thing it's gonna be fine and then There's coinbase from Brian Armstrong founder and CEO of coinbase at 11:59 a.m. Central Time he wrote We are Dealing with a large surge of traffic Apologies for any issues you encounter The team is working to remediate and So I responded to that and I wrote Bro You've had over half a decade of being Aware of surges like this how are they Letting this happen Still it's it's just it's just absurd And you know the worst part about this One in particular is you're able to log In and it just said that your account Balance was zero that's what it did in Case you hadn't heard it said your now Your your funds are safe but my God the Panic that set in from and Understandably so you log in you don't Know what's going on what I don't have My money anymore like If anything they should it just instead Of that happening put up a damn error Screen so that they can't see the the The account ballots being zero like what Are you doing how is that even a thing
That that happened that shouldn't have Even been technologically possible Should have been coded in such a way That if there's a surge in traffic and Things go down because you're coinbase And you know that you're going to fail Then at least that wouldn't happen holy Hell Guys so then he had an update and this Is at 2:11 p.m. today at are now Recovering we had modeled a 10x surge in Traffic and load tested it this exceeded That number it's expensive to keep Services overr provisioned but we'll Need to keep working on autoscaling Solutions and killing any remaining Bottlenecks thank you for bearing with Us so folks uh your eyes don't deceive You and you heard what I just read it's On your screen right there this is the CEO of coinbase saying we don't want to Spend enough money on our platform to Make sure that it won't go down during Time of high traffic and extreme Volatility we're just not going to do That it's a little pricey if it goes Down it's it goes down you think that Your balance is Zer whatever you know Suck it here's here's a bunch of Eggplant uh uh emojis for all you your Crypto nerds out there that's it's Basically the attitude from Brian Armstrong eggplant emojis for Everybody wow that is I just astonishing
Does he just that is he lacking the Self-awareness to see how terrible the Optics are of That it's astonishing Truly and then there were people that uh You know thought that coinbase was Hacked and funds were actually sto oh my God like why are people jumped into These conclusions so here's what I wrote On That I'm kind of amazed that some people Actually believed coinbase was hacked Instead of it just being a tech problem Due to a surge during a crazy time if Coinbase funds were stolen do you really Think it's programmed in such a way that The user would see a zero balance no if Coinbase were ever insolvent for any Reason the last thing they would do is Broadcast that message come on folks Don't be so damn naive um now somebody Named JB wrote to me and said maybe Maybe not organizations don't get to Choose how their system will respond to An unknown attack once you're owned it's Uh it's an uphill battle to minimize and Mitigate and so I push back because Again um and nothing against him on a Personal level at all uh I just I know That doesn't make sense and so and it's As simple as what I I responded with I Wrote you'd have to assume that account Balance data is actually linked to Blockchains which Absol which obviously
Makes no sense given the platform Updates in real time makes no sense so Folks if you buy and sell Bitcoin you May notice that you see the results on Coinbase instantly as fast as fast as Xrp would would would settle that's Because you're it's not a blockchain Transaction that's occurring that you Seeing you're seeing what their database Is spitting out at you so if the if the The block chains were ever success Sucessfully compromised and Bitcoin or Xrp or anything was stolen you're it's Not going to show up in your account Balance why would they why would they be So stupid as to do that it'll just Exacerbate the problem if they get Hacked they're just going to have every Customer Under the Sun freaking out uh That much sooner I mean there' still be Massive freakouts but my God just going To make it worse by broadcasting that uh No so it was very obvious of course this Wasn't hack and then of course if it Were a hack oh and it just happened to Be happen happening at the the greatest U you know Greatest amount of increase in terms of Traffic and volatility in crypto that We've seen basically forever and it just Happened to be a hack right that like Some people were not thinking through This saying stuff like That uh and then there was this and this
Is a good jab from cryptocurrency Exchange Kraken and this is a jab Against coinbase they simply wrote just In not down that's a Dig oh you got to love it so anyway all Suffice it to say the Best Yet to Come And man at the time that Rec I've been Recording U did I say what time it was I Don't know if anybody's curious it's now I'm wrapping this up 10:40 p.m. central Time uh of course that is what the hell Day is it Anyway Wednesday February 28th 2024 uh Bitcoin now almost at $62,000 Again xrp climbing as well 58.9 um looking good fireworks not over Even so even if the anal are correct That say Hey it might take a few days Are show to consolidate and not Everybody like some people think that We're going to see fireworks even sooner Than that but even if my God like as Exciting as today was There's real good Reason to Believe this isn't you're going to look Back this won't be the best or most Exciting day when it's all said and done And xrp will absolutely have its day in The Sun as long as Bitcoin hits a new Alltime high I'm I'm not as confident Without that because xrp's never had a New alltime high without Bitcoin doing So first But if if Bitcoin could get through Those levels that were thought to be
Impossible and pop up to $64,000 it suddenly doesn't seem crazy To think it could go up another five or $6 thousand and knock out the all-time High does It wow this is absolute Insanity I'm Having so much fun today and I hope all Of you are too I'm willing to bet that The vast majority of you are too even if You have a little freak out with Coinbase and I understand why if you did I mean you you log in you've got like a Substantial portion of your net worth Perhaps on coinbase because you are not Engaging in self- custody mhm okay but If you're doing that I can totally Understand uh you know the freak Out all right I'm gonna wrap up here wow I'm having I'm having such a good time With this stuff I love this thanks for Hanging out here too I really I I just I Got to tell you I'm genuinely humbled by All the sport I've been doing this uh Running this YouTube channel for over Half a decade now and it's just it's a Bless it really is my most favoritest Hobby that I've ever had in my entire Life and just to spend all these Exciting times with you good people it It means the world to me it really does I really appreciate all the support so Thanks so Much 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
