đšThe âget-rich-quick dreamâ of young people in South Koreaâthis time it really shattered.
$1.45 billion, and 460,000 accounts were wiped to zero.
This isnât just a disaster in the South Korean stock marketâit also affects the crypto market.
When the stock market catches fire, why does the crypto world run out of breath first?
Many people have a misconception that stock trading and crypto trading are two separate groups of people. In South Korea, thatâs not the case at allâtheyâre the same batch of young people, using the same pot of speculative money.
This round of liquidated leveraged retail tradersâthose aged 20 to 30âmake up 62%. These people are the most savage wolves of market speculation.
In todayâs market, it really is one place thatâs on fire and everything gets burned.
This liquidation could spill into the crypto circle. Rebuilding confidence after this kind of trauma may take a long time. Over the coming months, even multiple quarters, people may take a more negative stance toward any high-risk assetsâincluding cryptocurrencies.
With the Bank of Koreaâs 2.75% interest rate still weighing down everything, the cost of capital is too high.
Thereâs no new money coming from outside the market, and inside the market the old money is being flushed out. The best strategy right now is eight words: keep enough cash and wait for the freeze point.
Hang in there.
The market wonât dieâbut anyone blindly going long on low-quality altcoins will die before dawn.$BTC
#Nikhil_BNB #BTC
$1.45 billion, and 460,000 accounts were wiped to zero.
This isnât just a disaster in the South Korean stock marketâit also affects the crypto market.
When the stock market catches fire, why does the crypto world run out of breath first?
Many people have a misconception that stock trading and crypto trading are two separate groups of people. In South Korea, thatâs not the case at allâtheyâre the same batch of young people, using the same pot of speculative money.
This round of liquidated leveraged retail tradersâthose aged 20 to 30âmake up 62%. These people are the most savage wolves of market speculation.
In todayâs market, it really is one place thatâs on fire and everything gets burned.
This liquidation could spill into the crypto circle. Rebuilding confidence after this kind of trauma may take a long time. Over the coming months, even multiple quarters, people may take a more negative stance toward any high-risk assetsâincluding cryptocurrencies.
With the Bank of Koreaâs 2.75% interest rate still weighing down everything, the cost of capital is too high.
Thereâs no new money coming from outside the market, and inside the market the old money is being flushed out. The best strategy right now is eight words: keep enough cash and wait for the freeze point.
Hang in there.
The market wonât dieâbut anyone blindly going long on low-quality altcoins will die before dawn.$BTC
#Nikhil_BNB #BTC