The narrative that FDV/Market Cap doesn't matter because XRP has "utility" is MISLEADING. It's a trap to keep you holding while others use you as exit liquidity! ๐โโ๏ธ๐จ
Don't be fooled by those who don't understand simple math. They're making you delusional with FOMO, while they quietly sell their bags! ๐คฅ๐
Let's break down why the idea of XRP reaching $1,000 is unrealistic:
Right now the market feels heavy. US Iran tensions are rising. Saylor is reportedly ready to dump 5 million in BTC. The ColdCard drain has caused major trust issues across the hardware wallet space. And on top of that BitMEX and BitMart have both announced closures.
So the question everyone's asking is โ is this finally the bottom?
I don't think so.
I've been through two full bear markets and one thing I've learned is that the real bottom only comes when 99% of people believe 100% that Bitcoin is a complete scam. Not when there's fear. Not when there's bad news. When there's total capitulation and disbelief.
We're not there yet.
We still need one truly catastrophic event before that shift in sentiment happens. And if history is anything to go by, that moment could come anytime between now and October.
The clock is ticking. ๐ค
Not financial advice, just how I read cycles based on experience.
$250 billion has been added to the crypto market in July.
Bitcoin is up 15%. ETH is up 24%.
The July relief is here. Short term holders, sell through the pump things can move quickly and dump quickly too so donโt get greedy. Long term holders, just donโt buy for a couple of weeks.
No, India has NOT announced new crypto regulation todayโthe viral RBIโSEBI claim was removed after clarification. Always wait for official confirmation. ๐ฎ๐ณ
Indian crypto space is being gripped by the neck right now.
USDT premium was already 4 to 5% since day one of crypto in India. Going to 8 to 10% isnโt even that surprising.
But what a lot of people fail to realise here is the recent crackdown specifically targeted large OTC deals and remittance channels. The big players who brought USDT into India are no longer in the game. This will absolutely create a supply issue and honestly USDT could even touch โน110.
Harsh times ahead. But we just have to see through it. Nothing changes even if we sit here and complain.