Connecting the dots between DOGE and Robinhood
In my analysis I am connecting the dots between DOGE and Robinhood.
I believe that Robinhood is preparing for the massive stimulus package bill and are assuming millions of users will deposit them into their accounts. ACH Bank Transfers are not instant and takes a day or two to complete. So that would propose a current issue with their liquidity or lack of liquidity as millions of additional dollars flood the platform for short term trading.
RH's restriction of trading the following stocks: GME, AMC, NOK, BB, NAKD, SNDL etc. etc. last week shifted trader's interest and dollars to crypto where they then began buying into DOGE. Dogecoin is currently the cheapest Crypto asset on Robinhood.
After the shift in interest, DOGE skyrocketed/went vertical which then people started dumping and taking profits, taking away from RH's liquidity once again. So then they put a bandaid on that *problem* and restrict instant access to deposits for Crypo which slowed down the parabolic move.
RH enacted this policy on Jan 29th @ 8:30am
-This placed millions of dollars (assumed) into time lock-
2 Days later (Today) DOGE surged 11:30am
What about everyone else who forgot to check their RH app, or their deposits are delayed? I will be watching closely at DOGE and all other Crypos 48hours after the first stimulus checks are received. Along with the day of the stimulus plan approval announcement.
I believe that Robinhood is preparing for the massive stimulus package bill and are assuming millions of users will deposit them into their accounts. ACH Bank Transfers are not instant and takes a day or two to complete. So that would propose a current issue with their liquidity or lack of liquidity as millions of additional dollars flood the platform for short term trading.
RH's restriction of trading the following stocks: GME, AMC, NOK, BB, NAKD, SNDL etc. etc. last week shifted trader's interest and dollars to crypto where they then began buying into DOGE. Dogecoin is currently the cheapest Crypto asset on Robinhood.
After the shift in interest, DOGE skyrocketed/went vertical which then people started dumping and taking profits, taking away from RH's liquidity once again. So then they put a bandaid on that *problem* and restrict instant access to deposits for Crypo which slowed down the parabolic move.
RH enacted this policy on Jan 29th @ 8:30am
-This placed millions of dollars (assumed) into time lock-
2 Days later (Today) DOGE surged 11:30am
What about everyone else who forgot to check their RH app, or their deposits are delayed? I will be watching closely at DOGE and all other Crypos 48hours after the first stimulus checks are received. Along with the day of the stimulus plan approval announcement.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.