What's wrong, guys! I hope you have a good day today. Among today’s highlights, I have some popular stories about the latest developments in the crypto world. We will start from a title on Cryptonewsflash.com with "Vitalik Buterin warned, Cryptocurrency is in a bubble, and Bitcoin may fall behind" to start. It’s always fascinating to hear different people’s opinions on cryptocurrencies, especially We are at a time when bubbles are forming and the market is falling. For those who might be wondering, Vitalik Buterin was the creation of Ethereum The genius behind. It is really interesting to see his comments. You can believe me, but I think Vitalik is wrong about what is happening. Yes, I said it! Now, far from it, we can see the latest Ripple and SEC held on U.today.com Discover the key points of the meeting. In the past, SEC lawyers seemed to be overconfident. He once said that if a condition is met, the competition between Ripple and XRP is over, and I will I will share with you in detail in the later part of this video.
But before diving into it, let's start with an introduction. As always, welcome back to Money Side-your favorite encrypted news channel. If you are a newcomer, welcome to join the XRP family. Click the "Subscribe" button and turn on your notification so that we can Get notified when daily encryption updates are released. Now, back to today’s first story, we can see that Vitalik Buterin is talking about Bitcoin And cryptocurrencies are left behind. Buterin was not worried about the current state of the cryptocurrency market when mining Bitcoin . In fact, in an interview with CNN, Vitalik discussed that cryptocurrency is currently in In the bubble, when the bubble will eventually burst is uncertain, it may be a few months away.
remote. We will agree that we are forming a bubble and in the past There have been so many bubbles, if altcoins fail to develop successfully, this bubble will be very unique. Probably in terms of Bitcoin, we have reached the peak, but for altcoins, I don't think so. This is the stage where the coin pops up; people will make a profit and reinvest it For other currencies that have not been parabolic (such as XRP). This is what we XRP holders really look forward to. In an interview with CNN, Vitalik said: "Usually, the reason why the bubble eventually stops Some incidents have occurred, which clearly shows that the technology is not yet exist.
"Vitalik said it because I think currently The bubble that is forming has nothing to do with fundamentals. I think only those who invest in something want to make a profit. When this happens, the stop loss starts and the chart goes down, scaring more The person who started withdrawing money. But this is how the market works. FOMO, what we have encountered here is the same thing. It's just the human psychology that determines the whereabouts of prices in the market. And I think the fate of most of these cryptocurrencies will depend on human beings in the next few years Which ones are more valuable will be found in the market thing. Will it be a store of value for BTC, or they might find that XRP is A more valuable cryptocurrency to solve the problem of cross-border transfer in the real world? Well, there is only one way to find out! Jorge Tenreiro, Senior Trial Attorney for the US Securities and Exchange Commission (US SEC) An active conference call was held with District Court Judge Sarah Netburn on May 21.
Jorge argued that Ripple’s lawyers told the company that XRP can be both a security It's currency again. Jorge said: "They are experienced players. They have employed at least 12 law firms…must be Ripple's confusion contrasts with the facts. Now, this is very important, because here is at work: can the SEC Obtain a hands-on opinion from the SEC lawyer on the subject of whether XRP is a security or a currency ( Dates back to 2012)? Guys, and Ripple’s reasonable notification defense, this is crucial. This is a strong defense in itself and should be questioned here.
Ripple has the right to ask questions, why they let them know that they are selling securities without the SEC, Then it sold XRP worth more than 1.3 billion. Moving on, we can see that, as reported by USA Today, the US Securities and Exchange Commission is trying to force Ripple Provide legal advice on the status of XRP that it can get from lawyers.
Tenreiro claimed that the questioning of Howey’s ambiguity was invalid, but he noted The defendant injected his state of mind into the case. "They directly use their state of mind as part of their defense…" When asked about other interventions in the lawyer-client relationship, Tenreiro Said that if Ripple chooses not to follow the advice received from the lawyer, it will be " Gambling". He said: “If they receive advice but they don’t follow, they will lose… if Their lawyer told them that you still have to deal with the SEC? That will fight for their defense because they are confused. we will not I don't know what communication they gave… Ripple tells us what you are thinking about is meaningful. " Tenreiro may have a strong argument here, but it doesn't seem to be followed.
Their lawyers may have warned Ripple that the U.S. Securities and Exchange Commission (SEC) will The fact that a lawsuit is filed does not mean that their words are final. The SEC is the authority here, no matter what the lawyers say, this is in any respect Not an authority. In response to the SEC lawyer’s request, Ripple’s lawyer Gregory Rapawy claimed that Ripple’s Recommendations are not the subject of the defense. He said: "We believe and believe that XRP is not an investment contract irrelevant -This is a strict responsibility. Our defense is a fair notice, not our mentality. " In response, Tenreiro asked Ripple to withdraw its affirmative defense.
However, Rapawy said that Ripple will not refuse to find unprivileged internal files. And added that the internal documents of both parties may be related to the fair notice The defense is related. With this in mind, let's take a look at the price movement of XRP. We are looking at the time range for each day. This is my new update to XRP. In the past 7 days, XRP has dropped by more than 60%, and I know most people will panic right now , But I hope this analysis can be helpful to you. Two months ago, when we broke the 3-year resistance level of 0.65-0.75 USD, we never backtested it. But today we finally finished + we backtested SMA200, I hope this level Strong enough. If we compare this structure with the 2017 bull market, we will see a similar situation, and The drawdown is about 60%, and we all know what happened after that, so if we repeat the same structure , It will climb all the way to the 4.236 Fibonacci level, which is also ten dollars I expect this to happen when Bitcoin retreats from $32,000 to $47,000-52,000, and then The cryptocurrency bull market is complete.
I say this because XRP is always behind and it is always One of the tokens that ended the bull market with cryptocurrency. So be patient and don't panic! Please remember that we are not a licensed financial advisor. All videos on this channel are for entertainment purposes only. Tell us what you think in the comments section below and let us have a conversation. Thank you very much for watching. Don't forget to like this video and click the subscribe button below. Whenever we post amazing content, please turn on the notification to get notified.
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