From Cheds’ Journey to Hong Kong’s Crypto Hub: Market Transformations and Lessons Learned

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Technical analyst “Cheds” always dreamed of becoming a trader since he was a child. However, his path to fulfilling this dream was quite challenging. Despite studying psychology and entering sales and marketing, he never let go of his desire to trade stocks. Cheds eventually ventured into penny stocks and marijuana stocks, experiencing both massive growth and huge losses in his portfolio.

Determined to improve, Cheds decided to hone his skills in technical analysis and started a blog. Fast forward a few years, Cheds was able to quit his day job and realize his childhood dream of being a trader. Soon enough, he discovered Bitcoin, Ethereum, and Litecoin through a friend and started sharing crypto charts and analysis — rapidly growing his social media presence.

A challenging time struck Cheds when he was diagnosed with cancer. Instead of wallowing in sickness and vulnerability, he chose to focus on growing his skills as a technical analyst and crypto trader. This journey not only allowed him to overcome personal obstacles but also played a significant role in his development as an influential trader in the crypto space.

In another story, crypto exchange Hotbit announced it would close operations due to adverse business conditions. Citing reasons such as the FTX collapse, the banking system crisis, and a former team member investigation impacting cash flow, Hotbit urged users to withdraw funds by June 21.

Meanwhile, wallet provider Ledger faced backlash over its key recovery service. Due to the crisis, Ledger decided to pause the controversial service and open-source its code to address user concerns. This move will potentially open new opportunities for the company, such as subscription services that generate recurring revenue.

Hong Kong aims to boost its reputation as a crypto hub, licensing virtual assets trading platforms and setting strict compliance guidelines for them. The city’s strategy of providing regulatory clarity for crypto firms has attracted various businesses as it positions itself as a leading Web3 city.

Lastly, Ripple acquired Pantera Capital’s stake in crypto exchange Bitstamp, further solidifying its presence in the digital payment network sector.

In conclusion, crypto enthusiasts should always keep an eye on new developments in the market, as well as the success stories and challenges faced by traders and companies alike. The growing influence of crypto trading and its integration into various aspects of modern life requires both skepticism and foresight to make well-informed decisions.

Source: Cointelegraph

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