Transcription
Hey, what's going on, you guys? Welcome back to the channel. Going to be diving into a Bitcoin update. And to be quite honest with you guys, I'm very bullish at the moment. When everybody else is really screaming, they're fearful. They're saying it's over. That's when I truly know it's a time to start buying. It's a time to start dollar cost averaging in a lot more than I was previously.
Something I think a lot of people don't understand with dollar cost averaging, you do it in very, very small amounts. No, this doesn't mean doing it in thousand increments or even $100 increments. You should be doing it in like 10 bucks, 15 bucks here at the very most during times like this. You need to prepare for all scenarios. Whether it's going to go up, it's going to go down, or it's going to track sideways, you need to be prepared. And you need to be ready for that in order for you to be prepared. And in order for you to be ready, well, you need to be well informed. And to be well informed, you got to come here and you've got to watch the content on the channel. Not just the LUNC stuff, but also the exterior content that we also provide. For LUNC to move up, we're going to need the broader market to move up with us, you guys. So, if you're new here, don't forget to like, subscribe, comment, hit the notifications bell to stay informed. Let's get straight into this one.
We're looking at crypto bubbles quickly on the month. It's an absolute disaster. It's a sea of red and a lot of people are panicking, but I'm not. I'm dollar cost averaging in very lightly on a lot of different stuff, but what I'm dollar cost averaging in heavily with is XRP. And I'm big on this. Everybody knows this on the channel. Everybody knows this is effectively my BTC of the crypto cycle. What I believe is XRP is going to be the Ethereum, the Solana, the BNB of this cycle we're currently going through. And XRP has been an underdog for a significant amount of time. And something everybody else outside of the XRP community fails to understand is everybody knows what XRP is. The likelihood is every single adult mature investor that comes into crypto is likely going to invest into something like XRP in the same way that they would go and harness the Crypto.com app because it's plastered absolutely everywhere and it's called Crypto.com. This is called smart marketing and smart branding. The court case was nothing but smart advertising, smart marketing and getting XRP in the eyesight of every single person in the world. At this stage, if you ask people on a broader perspective in the everyday working world that you would walk past, what cryptos do you know about? The likelihood is they're going to say BTC, Ethereum, XRP, one of those three. And it's normally always for me BTC or XRP. Massively underrated, hugely undervalued, and honestly, this thing's going to absolutely explode if BTC does punch a new all-time high because past that, right, is going to lead altcoin season. This is all of the different things that people outside of XRP simply are unable to grasp at the moment.
Back in November this year, Michael Saylor's Strategy bought another 8,178 BTC worth $836 million. This brings his holdings to a total of 649,870 BTC. Now, Strategy has actually made another purchase since then around December 15th, and this brought their total holdings up even higher. And you're looking at around 671,268 BTC in total. He's really pushing towards that 1 million BTC mark and I think he's trying to get there as soon as possible because on top of this, you've now got him smelling another BTC purchase. So again, I have to emphasize this to everybody. Michael Saylor is buying the floor. These people know a lot more than we do. And money talks and I am going to be following the money. I'm going to be following these little orange dots he keeps putting on his little strategy chart because we are talking about one of the most influential people in crypto. This guy is essentially playing the role that Satoshi himself should have played and that's where Michael Saylor is really doing a good job.
Now on top of this, Donald Trump is saying all sorts of different things. But the economic boom, the tax rebates, the idea and situation of all Americans no longer having income tax. I think soldiers have just been given a rebate in the US. This is all money for people to spend on crypto. If there's an economic boom, you better believe people are going to be spending more of that hard-earned cash on cryptocurrency. In order for people to dive into riskier assets, you've really got to have a good amount of capital available to do that.
Just taking a quick look at this article about XRP ETFs. They've just hit a $1 billion milestone weeks after the launch. Again, this is really emphasizing that point that I stressed at the beginning. XRP is the Ethereum of this cycle. It's the BNB of this cycle. It is going to be the asset that literally explodes going from a single-digit asset to a possible triple-digit asset, possibly a quadruple-digit asset. So, this is bullish. This is from issuers like Canary Capital, Bitwise, Franklin Templeton, Grayscale, 21 Shares, Rex Osprey. This is all insane stuff that simply wasn't here during the last halving cycle. We have so many of these influential factors, right, that did not exist 4 and a half, 5 years ago when BTC last halved. We're looking at an alt season coming that is going to shadow every single one of it before then. And I think this longer gap we're seeing right between what should have been altcoin season and it really stretching further than that now is a good sign. The wider the base, the higher the space. It's that simple.
I wanted to save this article specifically just before the TNA because I think this is one of the most bullish things to happen to crypto. And this one is going to be something that just completely goes under the radar. And it's the Federal Reserve officially backing off the 2023 banking crypto restrictions permanently. So although right Donald Trump said when he took office, yes, Operation Chokepoint is officially over, there's still a lot of paperwork. There's still things that have to go through the pipeline in order to make what he said happened. There's got to be action. At this point, the action has happened and now we have zero choke points. This means many different banks that weren't allowed to get involved in crypto are now allowed to get involved in crypto. You guys, this is very bullish.
Okay, so let's take a look at the previous halving cycle, which was back in 2021. And what we've got is a clear inverse cup and handle playing out which led to another all-time high during that cycle. And what we need to pay attention to most specifically is what happened inside the handle of that inverse cup. We get the rise followed by the drop followed by the rise. And then this leads to a bullish reversal invalidating that bearish pattern. Okay, let's wipe the board clean. And now what I want everybody to focus on is the fact that there's a triple top in this pattern. And then we also have a rather funny pattern that's also played out in here. And some people call these Bart Simpson patterns. I don't think this was a true Bart Simpson as there's more of a vertical rise and more of a vertical drop. And these are yes seen as very bearish. So back in 2021, not only did you have a bearish cup and handle play out, you also had that triple top which was also bearish. You also had the Bart Simpson pattern which was also bearish. Yeah, we produced a new all-time high. And this is where I believe BTC in its current form right now is preparing to produce this new all-time high. And where we're actually currently sitting in today's pattern is just in this handle here.
Let's now go take a look at the most recent patterns that have played out for BTC. And what we're looking at is that 2024 run around this time last year producing a new all-time high and producing an inverse cup and handle. This one's pretty damn clear as you can see just there and then producing that handle. We have to again pay attention to what happens inside that handle where you get the rise, you get the fall and then you get the secondary rise. And these are supposed to be like I said bearish patterns. They normally go down, but this one did not. This then went on to produce another all-time high for BTC. So now you're up to date. We can take a look at this most recent pattern that is playing out. And as I mentioned, that previous all-time high came in after that inverse cup and handle. And now what we've got playing out is a rather large, rather substantial inverse cup and handle followed by a triple top with some people might say a Bart Simpson pattern in with it. Now, these are all indications that this market is going to crash. But what we're currently getting here is the rise followed by the fall and hopefully followed by that rise to then go on to produce what could be the next BTC all-time high. And I'm sticking by my guns on this one. And it's not just this technical data here. It's also the technical data with the BTC dominance chart and how that worked during the last halving cycles during the altcoin seasons that have been produced. If we have all of these bearish patterns, why is Michael Saylor still putting orange dots on his chart? I believe BTC is going to produce an all-time high. Stick with us on the channel.