Why XRP will not follow a bull run and will crash
I'm going to explain to you what could possibly be going on over here and what the surge in ripple potentially means. Before I do that though, let's just have a few laughs by looking at some of the news headlines in the last few days about this. So take a look at this. Here's some of the news headlines about this price search ripple xrp is up almost 50 percent in 24 hours on exciting new feature. And here's another one. Ripple to launch payments. Service XRP price surges. Seventy four percent. Here's another one. Ripple XRP could be boosted by exciting new payment options. Now, the reason I've been laughing at these headlines is not because in future we'll be using cryptocurrencies as a one method of payment. I do believe that actually is going to happen. I do believe that in the future we will definitely be using some kind of cryptocurrency for making payments.
Bitcoin insiders are buying cheap bitcoins, do they?
In this video, I'm going to share with you one of the most powerful and best kept secrets by professional traders. I guarantee you guys that 99 percent of people do not know this about the markets and I'm going to share it with you today in this video. You'll see guys a few days ago I posted this video. Let me show it to you. So this is my video a few days ago, and in that video what I showed you was this chart of bitcoin and I was explaining what this movement in Bitcoin a few days ago could potentially mean. In fact, as you can see here, a few days ago, we had a quite an interesting surge or a pop in bitcoin into the 6,800 level. If I go onto a lower timeframe chart, you will see that that's surge that we had a few days ago. This is what it looks like on a five minute timeframe. Take a look.
In other words, do you see anything on the charts that is potentially bullish or positive for bitcoin?
And by the way, guys, I think you're going to like this video because you might be surprised and perhaps shocked by the answer. So what I want to do in this video is to go back and challenge every assumption I've made in my recent videos. As you may have noticed from my most recent videos about Bitcoin, for example, this one and this one. I have been rather bearish on bitcoin. And by the way, if you go back and watch those videos again, you will notice that I've been consistent and logical in my justifications and my assumptions in those videos. Now, here's what I want to do in this video, despite the fact that I'd been bearish on Bitcoin in the last couple of videos. What I want to do therefore and this video is to challenge those assumptions and in fact going against those very assumptions that I had in the last few videos and I want to see actually is there a possibility or probability that I'm wrong?
We did tell you that Bitcoin rally will be on July and August may be on a downtrend. Why did you not listen to it?
That brings your attention to something very fascinating and very interesting. You might remember in the video that I posted about a but a couple of weeks ago now. This is the video that I posted just about a couple of weeks ago. I said the exact date of bitcoins, next big move and in fact I showed you two important date periods that was going to be important for bitcoin and Bitcoin's next move. Next big move will likely happen on this date. What were those dates? I'll show you a few moments. You see guys, first of all, at the time I posted that video. Here's what was happening. You see at the time bitcoin was dropping as you will see there, it was dropping from the period between May to July. It wasn't a downward trend as you'll see here, and it was approaching what we call time resistance.
Contrarian view on cryptocurrencies and Bitcoin market
When you know the majority of people are heavily short or heavily bearish on the market, why is it that that's a contrarian signal? Because I don't think. I think these questions were asking mostly about newer, newer traders, maybe by maybe newbies who don't understand the country or in outlook. Can you explain quickly if you can, why it is that when for especially for folks either have or don't understand as contrarian outlook report, the last commitment traders report when the majority of non-commercials were heavily short net short on bitcoin.
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