First about the crazy mini crash of the market yesterday. I was trading for the long side for the week and all was going beautifully in the morning with big greens all over but all the sudden in the early afternoon the market got a mini crash and my screen immediately turned to bloody red😢 The reason? The fake dumb president Biden was reported to propose a hike of taxes for high earning folks. I just cannot understand this fenetic reaction by Wall Street! Raising taxes is nothing new for this Alzheimer who has no clue whatsoever about how to manage the economy. He has been kept telling this for years and I thought those Street elites love this dumb president for higher taxes. Isn't it true they got really excited when Biden was faked into this presidency?! What's the fuss about this? Let alone there is virtually no chance that this tax bill will pass the Senate. I was really mad that my party was ruined suddenly but by carefully analyzing the charts, it was apparent that this was an overreaction and I was betting we would see a nice rebound next day (i.e. today). So I was sticking to my gun by holding my bloody positions and fortunately I did so. Today those Street elites, a bunch of idiots, apparently realized how stupid they were and they wanted to make up the big losses yesterday by buying frenetically today!! I ended up with beautiful greens all around again for the week😇💪
I'm sure you've likely heard about dogecoin. Not sure if you also know that the crypto was created as a joke – which has zero utility and, worse yet, an unlimited supply – is based on a meme of a cartoon Shiba Inu.Since it was a joke, no one took it seriously most of the time since its birth a few years ago until recently. See the chart below, within just a few months, it has shot up vertically in a straight line. The total gain since its birth has been well over 100 times but most of it was made since the start of this year, over 80 times!
While I know this kind of frenzy euphoric move may not be sustainable and I certainly don't know how long it will last, I'm still extremely happy for the moonshot of it. A couple of years ago I bought it as a joke for fun and I never really took it seriously and had almost forgotten that I was holding it. Then all the sudden a big gain is popping up, almost like a chunk of free money lying there quietly waiting for me to pick it up😄😇 With this kind of gain in hand, I cannot help but sell portion of it to not only recoup all my initial invested capital (many times more actually) but also get a good sum of some additional fund to be swapped to other cryptos. I will hold the remaining part to let it lead me to wherever it may want to go. Who knows maybe someday the joke coin will shoot up to over 1000 times as its ultimate destiny! After all, it is now called "People's Coin"🤗
Binance is the biggest microcurrency trading platform on the planet, and their US headquarters just hired Brian Brooks as CEO.
Brian served as the Acting Comptroller of the Currency (OCC) under president Trump.
Talk about a bullish catalyst!
People will see that a former OCC is the new CEO of Binance.US, and will realize that digital asset companies are indeed respectable.
Not to mention, when Binance publicly lists their stock, retail investors will love to invest in a company led by a former US bank regulator.
But it goes deeper than that.
A man like Brian Brooks has a lifetime's worth of powerful connections.
Now he's bringing his White House networking to the digital asset sector's largest trading platform.
I suspect it won't be long before our government finally upgrades our aging financial infrastructure with micro-technology.
Speaking of infrastructure, blockchain technology is also being used to build Europe's future telecommunications network.
Europe's Telecom Infrastructure Being Upgraded To Blockchain
The $87.3 billion telecom powerhouse, Deutsche Telekom AG, is going all in on the future of communication.
Today, the company announced that they've made a significant purchase in CELO, an altcoin made by the decentralized mobile payment company Celo.
Andreas Dittrich, head of the Blockchain Solutions Center at Deutsche Telekom, said:
"It might look like Deutsche Telekom is investing a significant sum in some weird altcoin... We're not doing this to make some money. We are going to be invested for years to come to support this network with a focus on infrastructure. The Celo protocol is very attractive to us as a telco because every phone number is linked to the wallet of a customer."
They're investing in Celo's blockchain network.
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