Clickbait description ... I know that's what I would have thought if I saw it, but look at what coinmarketcap.com posted today:
#0, the king... the undefeated heavy lightweight of the world.... r/WallStreetBets. (Coinmarketcap's /wallstreetbets/ info)
Never have we seen this kind of open revolution against the powerful forces of the usual financial markets. They had fun with Gamestop, then yesterday they had fun with $DOGE (Allthingscoin/pornstars-became-millionaires-today) and I thought the joke really was over and done at an ATH of $0.0245. But no, a new ATH of $0.895 for $DOGE - I'll bet some people were very unhappy they bailed their cherished HODLbags too early.
I was in the fortunate position of only owning 82 $DOGE and couldn't trade diddlysquat! Unlike Drew. He sold at $0.0235 and bought back in at $0.043. I hope he sold ... but who cares... its still $0.58 (13h27 UTC 29Jan) - he's in the green.
But lets take a sobering look at this very exciting stuff. When shit hit the fan on Wall Street with Gamestop and some other short positions, it was the established money (hedge firms, government, etc.) that shut down the retail investors from being able to use services like Robinhood from managing their positions. Instead they allowed only Institutional money to keep trading at the expense of every single retail investor they promised to serve with diligence and good faith. They failed. They broke. They gave up the trust of the people they were meant to be faithful to!
And finally someone took notice. Instead of coming to regulate cryptocurrency there's going to be fresh eyes on the established financial players, who use us - the retail investors - to fatten their bonuses.
While I'm not one for conspiracy theories, this is factual and it was a blatant abuse of power for all to see. As the WSB Chairman says...
Lets see where this goes...