XRP is DEAD! – BitcoinToday [June 23rd 2020]

Welcome back to the channel everybody. My name is Arty with CoinCasso and this is Bitcoin today. A show where we talk about everything cryptocurrency to keep you up-to-date in today's episode. We talk about Bitcoin hitting 9.6 thousand as bullish sentiment has returned and why xrp isn't exciting crypto Traders this year and three reasons why defi tokens are outperforming Bitcoin. We also go over the current top cryptocurrency prices as well as a brief analysis on bitcoin to see where it's going to go in the future. So sit back relax and enjoy the show. Good morning, everybody. It is Tuesday, June 23rd. Thank you so much for joining me every single day. And if you're new here and you like what you see consider subscribing down below and taking the notification Bell to get notified every time we upload a new video. And as always the show is sponsored by the CoinCasso cryptocurrency exchange. So if you're unsatisfied with your current exchange, because it crashes all the time consider checking out CoinCasso in the link in the description below and there's always a sign up bonus for new users.

Now, let's jump into these prices Bitcoin is currently sitting at $9,628 up two and a half percent from yesterday. And this is exactly why I love Ethereum sitting at $241.86 because it made the same move but up more percent at 2.95% EOS at $2.57 up 1.01% Litecoin not doing as well but still in the positive up 0.8% at $43.97 and xrp, which is also in the news today only up half a percent at $.188641 now, let's jump in the tradingview and do a little bit of analysis on bitcoin's price as you can see here from about June 11th. We've been literally trading sideways on this $9,300 line a few moves up and down but not too dramatic in the last 24 hours. However, we did see a really nice bike up to $9,800 but immediately dropped back down and sitting in about that $9,600 Mark right now, for those of you that are crypto beginners.

I want to explain how candles work really quickly for the rest of you. This will only take me about 30 seconds. Now the reason I would not expect this to go up any further as we are seeing a quick downtrend right here because this huge candlesticks is this bottom part is where the price opened and it shot all the way up to about 9,800, but then the Bears came in and rejected the price pushing it back down and having it close at about 9694. So this long Wick means this is a very bearish Candlestick and as you can see when the next Candlestick opened up the Bulls Push it up a little bit higher.

But again, the Bears rejected it pushing it back down to this $9,648 level then again. The Bears kept pushing it down. This is why this is considered a bearish Candlestick because the price went up and then the Bears rejected it pushing the price back down and now we are seeing a downward Trend. Also, if you look at the RSI right here, you can see it actually broke above the threshold meaning that it's actually over bought causing the price to drop back down and its own. So unless there's some good PR or some nice movement in the market.

This should continue to drop back down to that $9,300 level or rest nicely in the middle of sitting in about 9450 know I've been contemplating doing a YouTube livestream. So I'd like to know your guyses opinion in the comment section down below. What I'd like to do is do a YouTube live on exactly how I do my Bitcoin analysis all the information that I know about analyzing charts how to use moving averages how to use other indicators like the Macd and RSI and how I use these techniques to predict the price of Bitcoin and what it's going to do in the future. I also want to cover how to backtest your strategy so that you can see if the strategy that you chose is actually winning one. If something like that would interest you guys on how to read charts and how to do day trading cryptocurrencies the right way.

Let me know in the comments section down below and I will be more than happy to do like a one-hour live event. So over the last several months. I've been watching coinmarketcap to see exactly what the daily trading volume of Bitcoin is and usually a nice solid average is about 22 billion and recently over the last week has been pretty stagnant. We've seen around 19217 billion today the volume did Spike up to about 20.80% move right now. Let's jump into the news and see what's going on in the crypto world. This first article is titled Bitcoin his 9.6 K as bullish crypto sentiment returns bitcoin's price is rallying and Traders also increasingly see investment opportunity.

On the aetherium network Bitcoin was trading around 9563 as of 8 p.m. UTC gaining over two and a half percent of the previous 24 hours at midnight on Monday. Bitcoin was changing hands around 9200 and it began making gains around that time appreciating 3% over 9,600. The price is now well above its 10 and 50 day moving averages which is a bullish signal for Market technicians, despite the pump on Monday. They continue to expect selling pressure to affect the Bitcoin Market due to competition in the mining sector if we start to make a move up, it could really be interesting as a race for mining equipment comes into Focus also because if there has been performing really, well, the gas prices are actually up either the second largest cryptocurrency by market capitalization which Powers the aetherium network is also jumping today either was trading around $242 and climbed 5.7% in the last 24 hours.

So I think this consolidation. That we've been in since June 11th is finally coming to an end and we should see some market movement either up or down. I believe we'll see a little Tiny correction on the way down losing about 50% of its games, but then it should shoot back up. I would love to see the Bulls come in and just take that price above 10 and a half thousand and onto our second article of the day, which is titled xrp just isn't exciting crypto Traders this year.

Xrp the fourth biggest digital asset by market value has been left out of 20 20, oz rally in cryptocurrencies marking the second straight year of under performance compared with its larger and more popular Rivals Bitcoin and ether the token is down 2% in 2020 while Bitcoin is up 30% and ether the native token from aetherium has gained 76% This is exactly why I'm so bullish on aetherium because even though Bitcoin and ethereum have basically made the same moves. They call me only made 30% Where is aetherium made 76% cryptocurrency analysts and investors say xrp is likely underperforming this year because of regulatory pressure slow growth as a payment solution and lack of classic proof-of-work mining that generates. Air Supply for the trading Market such a Negative have outweighed bullish factors that include a reduced pace of sales buy xrp software developer Ripple and signs of progress in a partnership with the payment transmitter MoneyGram, even throughout the most recent bull crypto Market run.

There has rarely ever been anyone discussing xrp including me xrp is lagging returns following abysmal 2019 when the prices fell 45% while Bitcoin more than doubled the tokens share of the overall digital asset market capitalization has tumbled to 3% from 12% last year. Now, you have to understand that cryptocurrencies. It's all a race to become the most useful and most used as we see all these other altcoins coming out and doing well and then underperforming and then getting lost by the wayside the big players in the game like Bitcoin and ethereum are still gaining momentum primarily.

What's happening is these all coins are coming into circulation. There's a lot of hype about it, but then there's a huge sell-off which is the Typical pump-and-dump, but it did bring new users into the cryptocurrency space causing them to find different means of transacting. So they either go to bitcoin ethereum Litecoin or something more stable even in previous news. I covered how Japan is actually losing Steam on xrp. We're used to be the most popular cryptocurrency. So this might be the beginning of the end of xrp and onto our last article of the day which is titled three reasons why defy tokens are outperforming bitcoin price, Define base tokens are posting double-digit games and outperforming Bitcoin, but can the rally continue decentralized Finance defy has been a rapidly growing sector in the cryptocurrency space and although the volume of the defy ecosystem has yet to surpass the general crypto Market the new way of lending and saving has garnered positive media coverage and praise Define shows great promise.

And the market is starting to reflect this as many defy base tokens have been pumping strongly in 2020 with some tokens showing gains above 60% The last five days according to a report provided by Delta digital clients tokens for popular apps in the defy space have been showing great gains and long and short term. For example A A V A london-based defy lending platform strongly outperform Bitcoin this week with a 66.46% gain over the past week. Makerdao. Another popular base token also gain to 25.6% in the last week. Now as you can see here, these are the top six projects right now. And in the last 7 days, no one is below 24% but then this is where it gets really interesting in the past 30 days.

Some of these have reached 300% games and even more ridiculous in the last 90 days. If you were to invest in bank or your investment would be up 410% over the last three months. So take that into consideration for just a moment instead of buying one Bitcoin for $10,000 you buy bank or for $10,000 and in the last 90 days. Is your $10,000 turned into $41,000 that means you made $10,000 a month for the last three months passively. These are huge gains and defy and showing it's growing popularity and utility. Let me know in the comments section down below. Do you believe like I do that defy apps are actually going to progress the crypto space and bring more new users growing the crypto space in general or do you think these games will taper down and defy will go away. I hope you guys enjoyed this video. Don't forget to smash the like button on your way out and we will see you back here tomorrow.

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