This David versus Goliath story is currently turning Wall Street upside down: An army of Reddit users has been causing a price explosion for the ailing company Gamestop for days. It bankrupts large hedge funds; it makes individuals very rich.

If you still want to get in, you can now do so via Bitcoin thanks to FTX – and also against the GME rate

Last spring, Gamestop (GME) stock wasn’t even worth $ 3. The gaming company behind it has been stumbling for years, missed the connection to online business and invested money incorrectly. On January 4th, a good three weeks ago, the share was worth just under 18 US dollars and had gained around 500 percent in ten months. Very few could have guessed that this was just the beginning. However, a group of users of the anonymous social network Bitcoin Future platform tried everything to ensure that the price of the ailing company continues to rise. In the meantime it stood at 482.85 US dollars (high January 28), so it has gained over 15,000 percent. In less than a year. But how did that happen?

In any case, the price explosion is not due to good news from the company, for one year one bad news has followed the next, first hundreds of branches are closed here, then millions in losses are announced there. The online magazine Slate established the latest bull markettherefore not with the “greatest comeback story in the history of the free market economy”. Rather, the development is „symptomatic of financial life in 2021“. The development of the Gamestop share is representative of the “democratization of financial trading” and the “power of the gigantic online communities”. What the latter are capable of was only seen a few weeks ago in the storming of the Capitol in Washington DC, when Trump supporters and conspiracy mythics stormed the barricades waving QAnon and Pepe-the-Frog flags.

Gamestop: Reddit vs. Wall Street

Now, a particularly popular branch of the large online community Reddit has taken on Wall Street’s hedge funds. In particular, users of the 4.3 million strong subreddit r / wallstreetbets agreed to beat institutional investors at their own gun (and make a fortune on the side). The Reddit user u / Player896 had the idea last September. In r / wallstreetbets he published his seven-part plan: “Driving institutional investors to ruin for dummies – using Gamestop”. He had found that the Gamestop stock had enormous short positions on the part of institutional investors. If he and his Reddit network managed to get the stock up a little now, the hedge funds would be forced to abandon their short positions and buy back their shares – thereby increasing the price.

The highlight: The plan works. And: Even with the above-mentioned price increases, Reddit users are still convinced that there is still a lot of room for improvement at Gamestop – there is talk of up to 5,000 US dollars per share. u / DeppFuckingValue is probably the best-known r / wallstreetbets user and is treated like royalty in the subreddit. He got in at just under $ 15,000 at a rate of around $ 3.50, and his shares are now worth almost $ 48 million – and he still holds . And while some shareholders got very rich in a very short space of time, it also had the desired effect of driving institutional investors with large short positions into bankruptcy.

Melvin Capital, for example, has already cost around 30 percent of its capital at the current price rally . Even a rescue package amounting to 2.75 billion US dollars, which the hedge funds Citadel and Point72 has made available to Melvin Capital so far, could not save the institutional investor from bankruptcy. On January 22nd alone, Gamestop Shorter lost $ 1.6 billion in capital. And how does it continue? According to some analysts, the bull market cannot last and is predestined for a hard crash. That calls again for shorters who smell the quick money. And this time the crypto space is also part of the party.

Eric Demuth, CEO and founder of Bitpanda, came out to answer Lagarde’s statements on regulating Bitcoin and cryptomonies

The President of the European Central Bank, Christine Lagarde, recently reiterated her insistence on regulating Bitcoin and other cryptosystems, as well as the future of digital assets. In this context, Eric Demuth, CEO and founder of Bitpanda, went out to answer these statements.

„Lagarde makes good points about regulation and the need to eliminate any ‚funny business‘ and illegal actions. (…) Bitpanda has always been adamant about compliance with legislation and regulatory measures in all markets in which we operate. Regulation is critical to the maturity of a new asset class. If Europe adopts a smart regulatory approach, it has the opportunity to become the leader in this new technology,“ said Demuth.

Bitpanda discusses whether it’s worth landing in Latin America
He added: „Regulation is one of our top priorities and we value its importance in preventing and driving bad players out of the market. However, we cannot see Bitcoin from the same angle as fiat money“.

„Unlike fiat currencies, such as the euro or the US dollar, the value of Bitcoin is not defined by a single entity such as a central bank – it is defined by supply and demand – or in simpler terms, by the price people are willing to pay for it. Bitcoin is a store of value, an enhanced version of gold for the digital age,“ remarked Bitpanda’s CEO.

Bitpanda CEO says the days of indifference about Bitcoin are over
For Demuth, Bitcoin has been the best performing asset in the last decade: „Given how young this asset class is, and therefore how low its market capitalisation is compared to gold, it’s incredible to see how the industry has developed. The top US asset managers understood the implications of Bitcoin in 2020, and the importance of having this new asset in their portfolio.

„In all honesty, I strongly believe that the ECB should consider adding Bitcoin to its balance sheet, something that I believe will be inevitable in the near future,“ Demuth concluded.

According to asset manager Stone Ridge, Bitcoin’s Difficulty Adjustment is outstanding innovation.

Why flexible mining Difficulty Adjustment is so important for the network.

Gradually, then suddenly. The bon mot of the Bitcoin scene translated into German means something like: „Gradually, and then suddenly“. The recent price rally proves that the description of a possible bull scenario was not completely pulled out of thin air. While Bitcoin Hero gained about 300 percent in 2020, it was already 41 percent in the first eight days of the new year. Bitcoin is currently trading at $41,500. If BTC continues to grow at the same pace, the No. 1 cryptocurrency’s value could break through the $300,000-plus mark before the end of the year.

What some consider a pipe dream is already considered a foregone conclusion in the scene.

Capital managers discover bitcoin

In the meantime, however, the good news is also getting through to institutions from the traditional financial sector. Asset manager Stone Ridge, for example, recently published an extensive study on Bitcoin in its stock market letter to shareholders. In it, the author outlines Bitcoin’s value proposition with unexpected precision. What makes good money, he says, is its ability to be transferable across space and time. Gold has been the primary store of value for the past 5,000 years because the precious metal’s scarcity has made it extremely stable in value. But Bitcoin, according to the author, performs this function even better. And more: in addition, BTC is much more liquid than gold, as it can be sent around the globe in no time.

Bitcoin is the first store of value in history where supply is completely independent of increased demand. From this perspective, Bitcoin is better than gold – it is even more tradable over time.

So the same arguments that Bitcoiners have been making for some time are now filtering through to the realm of traditional finance.

Innovation Difficulty Adjustment

According to the author, the real innovation that Satoshi achieved in the design of his peer-to-peer electronic cash system was the integration of the Difficulty Adjustment. This ensures that even in the event of excess demand, no more BTC can be issued than specified. The limit is 21 million coins, of which 88 percent are currently already in circulation.

The Difficulty Adjustment, in my opinion, is Satoshi’s most underrated breakthrough, a truly ingenious application of game theory, and the fundamental reason why the Bitcoin network has always been secure. Stone Ridge

With a flexible mining Difficulty, the network remains secure, completely independent of the number of miners as well as the hash rate flowing into the network. The algorithmic inflation rate, probably Bitcoin’s strongest value proposition, is also secured by the Difficulty Adjustment.

Even in times of increasing demand for Bitcoin, Bitcoin miners have no way to mine Bitcoin faster. This makes unexpected inflation impossible. Forever. Stone R

Not surprisingly, the asset manager invested $115 million in Bitcoin back in October last year.

• Bitcoin rompe la marca de los 30.000 dólares para establecer un nuevo récord
• Una entidad desconocida mueve Bitcoin por más de 350 millones de dólares

Los criptógrafos y especuladores están animando a Bitcoin a lo largo de un mes. En medio de la concentración, un gran poseedor de Bitcoin, popularmente conocido como la Ballena de Bitcoin, transfirió 12.000 Bitcoins o el equivalente a 350.442.906 dólares de una cartera desconocida a otra cartera desconocida a medida que Bitcoin se acercaba a los 30.000 dólares.

Según los datos de Whale Alert, un avanzado rastreador criptográfico, tras el último rally de Bitcoins, un titular desconocido transfirió 12.000 BTC. La transferencia se realizó el 2 de enero cuando un Bitcoin se negoció por aproximadamente 29.160 dólares.

Bitcoin establece un nuevo récord

El vertiginoso rally de Bitcoin, que comenzó durante las vacaciones de Navidad y se extendió hasta el Año Nuevo, ha visto a Bitcoin romper la marca de los 30.000 dólares por primera vez. La pionera criptografía procedió a establecer un nuevo récord histórico de 34.608 dólares. En las últimas 24 horas, Bitcoin ha visto un volumen de operaciones de 85 millones de dólares.

En el lado opuesto

• No sólo el precio de Bitcoin está creciendo a pasos agigantados, sino que los casos de uso de la cripto-moneda número uno crecen a la par.
• El 31 de diciembre de 2020 el multimillonario mexicano, Ricardo Salinas Pliego, anunció que están trabajando en la creación de una plataforma que integrará Bitcoin como medio de pago en el sistema bancario mexicano.
• Los linieros ofensivos de los Panthers de Carolina, Russell Okung ha aceptado que se le paguen unos 6 millones de dólares de su salario anual a través de Strike para comprar inversiones de Bitcoin.
• Añadiendo a la creciente lista, los inversores americanos y los gestores de fondos de cobertura, Paul Tudor Jones y Stanley Druckenmiller lo respaldaron como un activo alternativo, sumándose a la huelga.

¿Qué significa el movimiento?

En general, las personas que tienen más de 1.000 Bitcoin se consideran ballenas de Bitcoin. No sólo los individuos entran en esta categoría sino también las empresas e inversores institucionales que han respaldado y están utilizando Bitcoin como opción de pago. Dado que se desconocen las direcciones de las carteras, es casi imposible establecer a qué categoría pertenecen las ballenas.

La última manifestación de Bitcoin continúa en medio de una ola de interés de inversores institucionales y bancos centrales de todo el mundo. Bitcoin no sólo está respaldado para continuar la tendencia alcista en los próximos días, muchos especuladores creen que con el aumento del interés global, sino que también procedería a consolidarse como el almacén de valor del futuro.

El precio de Bitcoin Circuit extendió su aumento por encima de los USD 27,500 y USD 28,000.

Ethereum volvió a probar la región de resistencia de USD 745, XRP no pudo superar los USD 0.250.

El DOT se mantuvo en una fuerte tendencia alcista e incluso subió por encima del nivel de USD 7,00.

Después de una pequeña disminución, el precio de bitcoin comenzó un nuevo aumento por encima de los niveles de USD 26,500 y USD 27,000. Más importante aún, BTC rompió el nivel de resistencia de USD 27,250. El precio incluso se disparó por encima de los USD 28.200 y actualmente (05:00 UTC) está consolidando ganancias.

Del mismo modo, hubo movimientos positivos en la mayoría de las principales altcoins. ETH / USD se negoció por encima de la resistencia de USD 735, pero luchó nuevamente para despejar la zona de resistencia de USD 745. XRP / USD completó una corrección al alza cerca de USD 0.250 y disminuyó a USD 0.195.

Capitalización de mercado total

Hubo un aumento constante en el precio de bitcoin por encima de los niveles de resistencia de USD 27,000 y USD 27,250. BTC incluso subió por encima del nivel de USD 27,800 y se disparó por encima de la zona de USD 28,000. Sin embargo, no hubo una continuación alcista por encima de los USD 28.250 y el precio se corrigió unos puntos a la baja.

En el lado negativo, un soporte inicial está cerca del nivel de USD 27,800. El primer soporte clave está cerca del nivel de USD 27.500. El soporte principal ahora se está formando cerca de USD 27,250 (la zona de ruptura reciente).

Precio de Ethereum

El precio de Ethereum también siguió a bitcoin y subió por encima de los niveles de resistencia de USD 720 y USD 730. ETH incluso rompió los USD 740, pero luchó por continuar más alto por encima de la resistencia clave de USD 745. Se corrigió a la baja por debajo de los USD 740, pero hay muchos apoyos a la baja.

Se ve un soporte inicial a la baja cerca del nivel de USD 725. El soporte de ruptura clave podría ser USD 720 a corto plazo, por debajo del cual el precio podría volver a visitar la zona de soporte de USD 700.

Bitcoin cash, litecoin y precio XRP

El precio en efectivo de Bitcoin subió más del 5% y superó los niveles de USD 340 y USD 350. BCH ahora cotiza por encima del nivel de USD 350. Parece que los alcistas apuntan a una nueva prueba del nivel de USD 365. Cualquier otra ganancia podría marcar el ritmo para un impulso hacia el nivel de resistencia de USD 380 en el corto plazo.

Litecoin (LTC) se está consolidando por encima de los niveles de USD 122 y USD 125. Una resistencia inmediata está cerca del nivel de USD 132. La primera resistencia clave está cerca del nivel de USD 135. Una ruptura clara por encima del nivel de USD 135 posiblemente abra las puertas para un aumento constante hacia el nivel de USD 142.

Precio XRPcorregido al alza bruscamente por encima de USD 0,220 y USD 0,232. Sin embargo, no logró ganar impulso por encima de USD 0,250 y comenzó una nueva caída. Recortó la mayor parte de sus ganancias y se negoció por debajo de los niveles de soporte de USD 0,210 y USD 0,200. Parece que el precio podría continuar moviéndose hacia la zona de soporte de USD 0.180.