In this content, the speaker discusses the current state of the cryptocurrency market, specifically focusing on Bitcoin, Ethereum, and XRP. They mention participating in a crypto trading competition and express their belief that the market is in a bull phase. The speaker also comments on the ongoing lawsuit between Ripple and the SEC, pointing out the uncertainty surrounding the allegations. They express their opinion that the SEC is trying to gather information from Ripple. The speaker mentions potential future developments in the market and emphasizes their bullish stance on various coins, including ADA, Solana, and Matic. They also address misconceptions about XRP and highlight the centralization concerns surrounding the coin. Finally, they mention investor frustration with the long duration of the SEC’s investigation.
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Introduction: Crypto Wild West and the Bitcoin ETF
Hey guys, what is up it’s dusty here and welcome back to another crypto video in the crypto wild west. It’s been absolutely crazy the last couple of hours. I mean, I’ve been checking all the freaking statistics and to be honest with you, those don’t really look too crazy.
Crazy Market Movements
I mean, there haven’t been any crazy liquidations, there haven’t really been any crazy movements in terms of futures. We saw some crazy volume and some crazy battles, but even then, it’s relatively crazy. If we look at the actual numbers of people who were surprised with this move, it is actually relatively low. And I think that’s because most people just agree things should go up right now.
Preparing for the Upside
When the Bitcoin ETF news came out, I don’t think that many people wanted to short anymore. I purely think as well that people are preparing for the upside now since we’re in a really big bull market.
Being Long in the Market
But let me tell you guys as well, I am long so freaking crazy long right now. And long basically meaning you buy crypto contracts over on Bybit with the expectation that the value is going to increase in due time. I’ve done that for XRP, I’ve done that for Bitcoin, I’ve done it for Ethereum. It’s because I think in the short term things are going to go nutty.
Crypto News: SEC vs Ripple
But let’s cover a little bit of crypto news, huh? It’s Ripple’s fault says the SEC on recordings of XRP sales meetings. The SEC’s bad timing we’re close to the discovery deadline may work in favor of Ripple’s interest but the judge is expected to compel Ripple to produce evidence that will form the backbone of the SEC’s case.
The Lawsuit Debate
We’ve actually discussed this a couple of times by now. Right now what’s being discussed is if you ask me what the lawsuit should actually be about, there’s quite a lot of debate about this one. Think about it, there’s quite a lot of debate and quite a lot of unknown right now because think about it right, think about it. What exactly does the SEC allege? Is it that every sale of XRP is security maybe or is it mostly that they marketed it as a security maybe? Is that every contract of Ripple has been wrong or an investment contract maybe? It could be that Ripple knows this but we as the public find it pretty difficult to find the exact line of where it went wrong and who exactly is in the wrong. It could, for example, be that only people who had a direct contract with Ripple are in the wrong.
SEC’s Uncertainty
Then again, it could also be that every single XRP sale was illegal. Basically, every so ever. It could then again also be that it is only for a certain moment. For example, when there was clarity maybe in 2018 to 2020 before the lawsuit started. It could also be that it’s been 2013 when it started all the way up to now. Like all these things are very freaking difficult and it’s funny to me how we can see the SEC do some shifty dance moves right now trying to kind of get some scramblings and things together. But in the end, guys, I firmly believe they don’t really know exactly what they want either. They just want to get as much information from Ripple as possible to try. But again, that’s just my opinion on the matter.
Closing Remarks: Giveaway and Market Predictions
Bye, guys! By the way, make sure you press the like button. I’m doing some crazy giveaways soon. You guys already know we have the 50,000 XRP competition going on, which is basically a 50,000 XRP giveaway. It’s not a joke, it’s not fake. You guys can check everything out. Last time we gave away 10.2,000 XRP. This time right now we are at 7,500, but we can definitely up that a little bit higher. The more people that join, guys, the better it’s going to go. Sign up, a link is down below. It’s for Bybit. Again, let’s get crack lacking. That’s what I’m telling you guys.
Short-term Market Predictions
In terms of XRP price, by the way, a lot of people ask me this. I am long, but I’m not sure what exactly is going to happen in the shortest term. I mean, right now people are betting crazy on a Bitcoin ETF. But that’s what it is, right? A Bitcoin ETF. Ethereum, if you have all that stuff, hasn’t really been talked about right now. And so the main point of interest that people have right now is Bitcoin ETF. As we’ve seen from just being in the crypto space for a little while, very often this translates into a huge amount of interest for altcoins, basically in the near term.
Altcoins and Price Exploration
That’s also kind of what I’m expecting here, guys. In the short term, that Bitcoin is going to get some crazy pump going on. Right now, once it’s above ultima, it’s freaking free territory. And once it kind of rushes, it takes over a little bit of what is, what is the percentage called again, dominance. Then eventually, altcoins are going to start picking themselves back up. But it’s going to go freaking nutty. I’m still basically betting on that. If I had to put something up there for you guys, that’s what I’m doing. And then again, for XRP, there’s like an extra multiplier because if there’s a lawsuit or something crazy comes out, it could get even crazier.
Bullish on Altcoins
Now some of the coins that I guess are in this little section is like ADA, Solana, and some of those other coins. They’re already at the top. Like even Ethereum, those coins can really go insane over the next couple of weeks. I’m also talking about Stellar, VeChain, all the top coins that I cover so often on my channel. Even Matic, those coins I’m so extremely bullish on right now. I’m gonna be buying altcoins really soon, like a whole bunch of them. It’s like bundles extra because right now, guys, remember, we’re at the highest point in the crypto space ever. And I personally believe that after Bitcoin goes into price exploration mode, altcoins are gonna start exploding again. It’s just gonna be freaking crazy, man. I keep reminding you guys.
Misconceptions about XRP and Ripple
It’s, it’s, man, if we’re talking only about the Ripple side of things, I’m going to tell you, yeah, XRP has a crazy potential. But if we’re talking, like, the market-wise potential, like every altcoin has crazy potential. Short-term, medium, in terms of all of it. Steven just shared this one of the leading German business journals writes that the XRP ledger is centralized because all payments are controlled and checked by a group of 35 people. Oh my dear god. And he tagged a couple of guys. And well, Steven said here, quote, another disadvantage is Ripple’s hydrogen centralization. And I believe they actually came in and said, well, sorry, we made a couple of mistakes. Thanks for letting us know. And of course, Mac came in and put a couple of things right down. It’s pretty funny. But a lot of people are really misinformed about XRP ledger/ Ripple, which I think is kind of interesting. Then again, I don’t think these guys meant harm. I think they’re just meant to inform. Yet, the problem is if you inform and you’re doing the wrong job, basically you put up things that don’t really are true. That’s where things go kind of wrong. Right now, on a different sense, realist XRP 10 months later and the SEC doesn’t have anything over 40,000.
