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