After a very turbulent 2020, it came as no surprise to many that many different online trading markets and financial markets would be just as turbulent too as a number of different markets have shown a lot of up and down in a very short period of time – much like those playing on some of the biggest gambling sites not registered to platforms like gamstop here, playing these markets has been one big bet, with some paying off and others being a lot more difficult to predict – but where have the big movements been shown?
A big launch for retail traders – If you’ve been paying close attention to trading news throughout the start of the year, you’ll be all too aware of the ongoing up and down that has been GameStop – starting out at just $20 per share back in January, in an effort to counter the huge, short position by Wallstreet, one online reddit community of Wallstreetbets were able to pull together and even saw the price rise to a height of nearly $400. Whilst there had been many suggestions that the whole saga would end in March, and then April, and now May, it seems as if any change is a long way off as the market continues to hold in a similar position and reports suggest those holding a big, short position are already losing billions. Much of the trading done was by those on retail trading platforms too, and whilst some like Robinhood experienced a lot of drama through a strange choice to limit sell orders back in March, a much wider audience has started to find options in online trading because of this.
Crypto remains just as volatile as ever – A huge number of people have been invested in crypto or have been looking for new opportunities to get in for quite some time – when Elon Musk made the announcement for the support of Bitcoin with Tesla it certainly had an impact with the crypto reaching $60,000 a number of times during the year, but a following announcement saw the price drop by $10,000 over night once it was announced that the support was no longer there. Similarly, Dogecoin went through a huge shift going from $0.002 right up to $0.70 at one point too, with many jumping onboard hoping to catch what could be Bitcoin 2.0 with the same figurehead of Musk announcing support. Whilst the price has since dropped, the course of the year has shown just how volatile crypto remains to be, and how announcements here and there can have such a profound impact on the price and the success.
Both stories are far from over too as the prices continue to shift, and as communities continue to fall into the stories of success, huge gains, and huge losses – it will be interesting to see how the markets shape out, but finance and trading in 2021 has already shown to be a tricky beast to stay on top of.