Have a sip of the WallStreetBets!

I want to make a special post today, after all that happened in the last couple of days.

You all seen what happened in the last two days with Bitcoin, Dogecoin, XRP and Stellar. Also, you've seen the effects of a single tweet or bio change on Twitter over the crypto-market. Is it good? Is it bad? The point is that I'm not trying to analyze this now, because I'm not an expert. If you were lucky enough to have some DOGE or other crypto-currency and sell them when the price is up, then you made profit. If you were unlucky and bought them thinking that the price will go even further, then you have empty pockets now.   

When I write my posts, I like people to understand what it's all about without having the need of higher education, diplomas or a lot of financial education. I will start very simply to describe what this WallStreetBets/ WSB is.

As you can see above, there is quite a lot of activity on their Reddit channel, even today, after 2 days since it all started.

As you know, Reddit is a platform, an online community, where people discuss various topics. This community is made up of millions of members and most of them are professional traders, people who trade on the stock exchange, another part is made of people who trade crypto at a professional level, and another part represent people who are just fascinated of the crypto industry, of the stock market or of everything that means trading.

This story called WallStreetBets started somewhat recently, on January 22, 2021, when a research company, which studies the stock market, made a prediction against a certain company called GameStop in which it said that this company is going to decrease significantly. That is, to lose its stock market value.

At that time, this community formed on Reddit united and this WallStreetBets project registered an increase in value by almost 600% in just 4 days.

This brought them on the same pedestal as Elon Musk who is well known to influence the crypto market, especially through the example given with Dogecoin (about which I wrote earlier - Newbie Quest: Understanding Dogecoin (DOGE), but also about Bitcoin. I was mentioning in the introduction of a tweet change and as you know Elon Musk changed his Twitter bio into Bitcoin.

So did Jack Dorsey, the founder of Twitter. 

WallStreetBets is a new product, a new crypto-currency, which is already listed on CoinMarketCap.

This new crypto-coin is somewhat promoted by Binance, given that it owns CoinMarketCap, as the zero position on the Market Rank. It is a crypto-currency with a value of $483, which had an increase of 134,84% in the last 24 hours and 1162,42% in the last seven days. I will return to this data later, as I was trying to do now just an intro.

According to CoinMarketCap, WSB is 

WE SEEK ALPHA AND MASTER BETA!!!!11 La-li-lu-le-lo. Are funds SAFU or SNAFU? Is Bitcoin your safe word?

Here is the tl;dr of the $GAMESTONK 2 STRONK SQUEEZE - When your broker is as reliable as a Cyberpunk 2077 launch day patch, does the GAME have to STOP? #cwutididthere

R/wallstreetbets, also known as WallStreetBets or WSB, is a subreddit where participants discuss stock and option trading. It has become notable for its profane nature, aggressive trading strategies, and role in the 2021 GameStop short squeeze.

The subreddit, describing itself through the tagline "Like 4chan found a Bloomberg terminal", is known for its aggressive trading strategies, which primarily revolve around highly speculative, leveraged options trading. Members of the subreddit are often young retail traders and investors who ignore fundamental investment practices and risk management techniques, so their activity is considered gambling. The growing popularity of no-commission brokers and mobile online trading has potentially contributed to the growth of such trading trends. Members of the communities often see high-risk day trading as an opportunity to quickly improve their financial conditions and obtain additional income. Some of the members tend to use borrowed capital, like student loans, to bet on certain "meme stocks" that show popularity within the community.

The subreddit is also known for its profane and juvenile nature, with members often referring to themselves as "autists" and "degenerates."

It took me ages to decipher what they wrote :) 

If you look at the different charts, you will see the effects of this manipulation. Also, yesterday, January 30, 2021, we had a new scenario and a new episode of manipulations. This time I am referring to XRP / Ripple and the reason for this fabulous increase, because it increased by almost 80% and then decreased by almost 40%, is also a market manipulation. Personally, I hope that those who have eyes can see and realize that we live in a permanent manipulation, regardless of whether it is medical, financial, etc. This is the world we live in.

I'm not going to bore you much with WallStreetBets, the idea is that the WSB developers set out to bet against the wind. Specifically, against those on Wall Street and when those on Wall Street want to destroy something that has potential, they will bet against them. What we can say at the moment about this new crypto-coin is that they have 51.442.000 coins in circulation, that they had a Trading Volume of $100 millions and that they have a Market Cap almost equal with Tether. This seems enormous to me for a new project. It is almost as much as the total value of those from Tether. What is happening in crypto today is almost incredible.

So what do you think? Luck, manipulation or opportunity?

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