After the Divorce, I Found a Thousand Bitcoins - Chapter 10
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This chapter was translated by Lunox Team. To support us and help keep this series going, visit our website: LunoxScans.com
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I Got Divorced and Found a Thousand Bitcoins Episode 010
A 7 percent drop from the high.
In terms of price, it had fallen ten thousand dollars.
But the market sentiment wasn’t broken.
-Let’s go for the bargain sale~
-Buying a $120,000 item for $110,000? This is totally lucky~
-Are there any fools not buying at this price?
-When it drops sharply, what happens? It rises quickly!
Bitcoin had repeated multiple drops and rises.
And this repetition of patterns allowed individual investors to learn.
Eventually, investors developed a pattern of learning that Bitcoin would ultimately rise even when it fell, and buying pressure returned.
Kim Seong-won was the first to quickly grasp this.
“Buying pressure is coming in. A bullish reversal candle has formed on the 4-hour chart.”
Candles could be set to different time frames depending on how traders configured them.
The most commonly used candles were 1-hour, 4-hour, daily, and weekly charts.
The reason for looking at various candles was because each trader had different trading methods.
Some did day trading, finishing trades within a day, while others used swing strategies, holding positions for weeks.
Due to these differences, each trader looked at candles that suited them and used them as reference for trading.
Following Kim Seong-won’s report, Kwangho said.
“Report immediately through the company messenger.”
“Ah, yes!”
“From now on, all reports go through the company messenger. Moving your hands is faster than speaking.”
“Understood!”
During market hours, verbal reports had a high chance of being delivered late.
But messenger allowed real-time delivery.
Moreover, using the internal network and having personally handled the security made it strong against hacking or leaks.
‘By the way, the coin is showing an immediate rebound. What will he do?’
The buying pressure on the coin was quite strong.
This was a common pattern in stocks that had experienced sharp price drops.
‘This could end as a dead cat bounce, but since we’re near the highs, it could also be used as momentum to create new highs.’
The current position could form any pattern without it being strange.
Such positions were commonly called inflection points.
Since direction wasn’t determined, one shouldn’t forcefully take positions against the flow in such situations.
This was basic trading, so he didn’t think Kang Hyeon wouldn’t know this.
But since there was no action yet, he was curious.
‘The other employees seem curious too.’
Everyone seemed worried about what kind of trade Kang Hyeon would show.
However, Kwangho believed.
‘This is the first time since college you’ve shown such confidence. Show us something.’
Kwangho silently cheered for his friend and continued with his tasks.
“Alright, everyone stay focused!”
“Yes!”
What he needed to do now was lead the team members.
* * *
Executive Office.
Its owner, Kang Hyeon, was watching the monitor intently.
‘The price is rising quickly. With this level of buying pressure, it’s confirming a short-term bottom and heading to test the ceiling again.’
The monitor displayed Bitcoin charts.
1-hour, 4-hour, and 12-hour candles were each displayed.
The reversal occurred on the 4-hour candle.
‘The bearish candles gradually got smaller, and a hammer-type candle with a tail was completed in the previous 4-hour candle. In a falling chart, this is a candle that can create a reversal.’
After being discharged from the military, he had fully entered trader life.
Even excluding his individual trader period, he had spent 7 years as a trader.
He had already finished studying what people called technical analysis.
He had applied various theories to practice, but what Kang Hyeon mainly focused on was candle trading.
Especially signals appearing in long-term candles helped read future trends.
‘Daily and weekly charts showed continuously lower highs. This was a signal that buying pressure was gradually decreasing. The current state seems right to view as a short-term rebound.’
In the past, he would have stopped at this level of technical analysis.
But not now.
‘However, this ability is glowing blue. This is telling me that Bitcoin’s decline isn’t over yet.’
The blue light was telling him.
That Bitcoin’s decline hadn’t stopped yet.
Ding-!
Then a message arrived through the company messenger.
[Employee Kim Ha-ryul: CEO, sending Bitcoin-related report as attachment.]
Kim Ha-ryul was an employee recruited to the research team this time.
He was brought through Kwangho’s connections, and though he was in his mid-twenties, Kwangho had described him as quite skilled.
‘It’s not easy for Kwangho to call someone skilled. Let me see his abilities.’
He opened the file and read the contents.
[Bitcoin decline cause: Resurgence of quantum computer fears.]
[1. Ethereum founder Vitalik stated in an interview with Coin Post that if quantum computers are developed, all current security systems could be neutralized.]
[2. With continued new highs raising expectations for rises, high-leverage long positions appear to have been squeezed during the first decline. Estimated scale is $800 million.]
Various other reasons were organized afterward.
It was easy to read at a glance and summarized the current market atmosphere.
He was pleased that such information had been collected in a short time.
‘I have to handle this alone. This level isn’t bad.’
He definitely seemed to have skills.
Then his gaze turned to the Bitcoin chart.
Bitcoin, which had fallen to the early $110,000s, had successfully rebounded and was exceeding $115,000.
“Now, let’s see what happens.”
Kang Hyeon calmly watched the monitor.
Each time a candle completed on the chart, traces of fierce battles between buyers and sellers remained.
Trading volume hit the highest in the past 3 months.
Such volatility hadn’t been seen in a while.
Just watching the chart made time pass unnoticed.
Knock knock!
Then he heard knocking on the door.
Turning his head, he saw Kwangho standing at the door.
“Huh? What’s wrong?”
“Hey, everyone went home. Stop with the awkward formal speech.”
“Oh? Really? Did you send them home?”
“Yeah, since you’re doing the trading anyway. No need for everyone to be here, right?”
“That’s true. Good job. What time is it?”
“8 o’clock. Everyone left and it’s already been 2 hours. Were you watching charts without noticing time pass?”
“Yeah. It’s fun seeing volatility after so long.”
The most boring time when watching charts was during sideways movement.
Charts trapped in a box moving sideways were blood-drying to watch.
“True, I also took a position today and watched charts. It was no joke.”
“You entered too?”
“Yeah, I already closed everything though. Sold it all at $112,000 earlier.”
“Oh, made quite a bit.”
“Looks like around five million won?”
It was only about 2 percent compared to the total seed money, but this was enough.
Trading without greed – that was Kwangho’s philosophy.
“A-yeon said to come home and have dinner.”
“Really?”
“Yeah, stop looking at the charts. The system is synced to your phone anyway. You’ll get alerts right away if there are major price movements.”
“Oh~ The system already has that feature implemented?”
“Who do you think I am? Basic stuff like that is quick work.”
Kwangho definitely had good skills.
Not only programming, but also excellent leadership in managing team members.
While he was busy watching charts, Kwangho had taken initiative to control the employees.
“Well, shall we head out?”
“Yeah.”
He left the office with his reliable friend.
“Wow, look at all these people.”
“This is my first time coming to Seongsu-dong at this hour, so I didn’t know. It’s really hot.”
“Isn’t the atmosphere too young for old guys like us?”
“Haha, right.”
Walking through the bustling Seongsu-dong night streets, they soon saw restaurants.
Seongsu-dong had many diverse restaurants.
Several restaurants had all their street-side windows open, deliberately letting food aromas waft out.
It was a business strategy to attract customers.
Among them, he saw a familiar face at one place.
“Huh? Isn’t that Seong-won?”
“Hm? You’re right. The people around him are familiar faces too.”
“Really?”
“Yeah. I saw their faces a few times when I was at Yeouido. They’re probably Seong-won’s colleagues or something.”
Most of the personnel who joined the office were from Kwangho’s network.
That’s why Kwangho knew them better than he did.
“Let’s not acknowledge them unnecessarily. It’s awkward when employees see their boss outside.”
“True, that makes sense.”
Recalling his past days as an employee, he was about to pass by pretending not to know him.
“The company I joined? Ah, I really don’t know.”
He heard words coming from Seong-won’s mouth.
His voice was raised, probably because he’d been drinking.
“Why? Is it bad?”
Naturally, his attention was drawn, and focusing on it made the conversation clearer.
“It was my first day today. The CEO was trading coins.”
“What? Coins? I heard they have decent capital, but their first trade is coins?”
“That’s what I’m saying, so I’m feeling a bit disappointed. Ah, I don’t know. Let me go drain some water.”
The moment Kim Seong-won staggered up from his seat and turned around.
“Huh?”
The company CEO and his senior Kwangho were standing right in front of him.
“CEO… sir?”
“Were you having dinner?”
“Ah… yes. I was having a light drink with colleagues from my previous company.”
“I see. I’ll take care of the bill here, so please eat comfortably.”
“Ah… no sir…”
“It’s fine. I’ll pay leisurely, so please eat to your heart’s content.”
Kang Hyeon passed by Seong-won and went into the restaurant, and could be seen paying something at the counter.
Watching this, Seong-won looked at Kwangho.
“Senior… how long have you and the CEO been here?”
“Hm? We were just passing by?”
“Ah… is… is that so?”
“Yeah. But why are you sweating so much? Didn’t you drink too much?”
“Ha… haha… I guess I drank a bit.”
During their brief conversation, Kang Hyeon returned and patted Kwangho’s shoulder.
“Well, Manager Lim and I will be going. Enjoy your meal. Hope to see your colleagues again sometime.”
“Yes!”
“Thank you!”
“Please go ahead, CEO!”
As the two figures moved away, Seong-won’s legs gave out and he collapsed into his seat.
“Huh… did he really not hear? Hey, did you guys not see when the CEO arrived?”
“Hm? Don’t know.”
“We were focused on your story, how could we see who was passing behind us?”
“Damn… he really didn’t hear, right?”
“If he heard that, would he have paid the bill and left like that?”
“Right. He would have said something.”
“Right… right?”
“Yeah. Don’t get scared for nothing, have a drink.”
“Hey! That’s right! The CEO paid the bill, so let’s eat to our heart’s content!”
Kim Seong-won focused on the drinking session again.
Meanwhile, Kwangho, who was heading to Main Street, said to Kang Hyeon.
“He’s not usually the type to say things like that. He must be excited meeting his colleagues.”
“It’s fine. We used to gossip about the company when we had drinks together too.”
“We did. Should we gossip today too?”
“Hey hey, I’m the CEO now, you know?”
“Exactly, so I’m not gossiping behind your back, I’m criticizing you to your face.”
“Oh really?”
“Haha!”
“Besides, from Seong-won’s perspective, he doesn’t have trust in me yet. I’m a CEO who hasn’t shown any proper results.”
“A CEO just needs to pay salaries properly, what results?”
At Kwangho’s words, Kang Hyeon spoke with a cold expression.
“That’s for regular companies. We’re an investment company. Moreover, a family office where the CEO has 100 percent authority – in places like this, the CEO must show solid results for employees to trust and follow.”
Kang Hyeon was evaluating himself coldly.
That’s why Seong-won’s words didn’t stir any emotions in him.
It was a private setting and he was right anyway.
“I’ll build it up going forward. Both my track record and the employees’ trust.”
At his friend’s changed appearance, Kwangho chuckled and patted his back.
Pat!
“Got it, so stop being dramatic. Let’s hurry, A-yeon will starve to death.”
“Right.”
* * *
Dawn in Korean time.
When most people were asleep.
The cryptocurrency market moved.
[BTC +1.42%]
The Bitcoin price that had been maintained in red numbers.
[BTC +0.56%]
Suddenly 1 percent disappeared.
[BTC -1.47%]
It instantly turned blue.
But that was only the beginning.
[BTC -2.13%]
The blue candle on the chart dropped straight down.
[BTC -3.77%]
The candle that kept falling without stopping plummeted instantly to $111,000, the previous low price.
Essentially, it had given back all the gains and returned to its original position.
This is where buying pressure came in.
Traders who thought the price would rise again after finding support at the previously supported level entered the market.
But as if ignoring such expectations, the candle instantly broke through the low and dropped further.
[BTC -4.12%]
The collapse of the $111,000 support level further fueled the selling pressure.
The result was catastrophic.
[BTC -6.42%]
Bitcoin’s decline didn’t stop.
No, it was actually accelerating.
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This chapter was translated by Lunox Team. To support us and help keep this series going, visit our website: LunoxScans.com
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