Robinhood posts record profit as post-election trading frenzy lifts volumes
Trading platform Robinhood HOOD reported a surge in fourth-quarter profit on Wednesday, fueled by frenetic activity in equity and crypto markets following Donald Trump’s presidential election victory.
Robinhood’s transaction-based revenue, or income generated from fees for facilitating trading in options, cryptocurrency and equities, in the quarter jumped 236% to $672 million from a year earlier.
Nearly half of those gains came from a 700% rise in revenue related to crypto trading as bitcoin continued its rapid march towards the $100,000 mark during the quarter on hopes of favorable policies under the new Trump administration.
Even the blind chicken would see that BTC has found a support above 95.000 and now only question that remains is if/when it is going to start rallying again.
Next 48h it should happen if nothing unexpected happens ( like someone talks in his sleep, someone else wants a world peace suddenly and so on – however it is not the news, but how the market will digest it…)
Time wise – to be able to continue reaching new highs it has to go over previous high in next 4 days.
Pattern wise – it might be ready to go into correction – depending on fundamentals/news in coming days correction can be shallow – till around 2825.00 or a deeper one all the way to 2750.00
I swear I had no idea Modi’s visiting the USA… I’ve put myself on a self-imposed media blackout esp when it comes to Indian media… the things they publish are just too darn bizzare and outright vulgarity!! I heard today from an acquaintance that some youtuber is under the scanner for asking someone an offensive question about the privacy of parents and the whole of India is up in arms about that matter.