After the Divorce, I Found a Thousand Bitcoins - Chapter 11
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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 011
[Bitcoin recorded a massive drop during the early morning hours.]
When he turned on the news, the anchor was talking about Bitcoin’s decline.
[Bitcoin, which recorded its largest drop since the pandemic shock that was designated as Black Day, barely managed to hold the $100,000 line.]
The world had once closed all borders due to the infectious disease called Corona.
At that time, not only cryptocurrency but also NASDAQ, overseas futures, FX, and all global stock markets had fluctuated.
Last night’s drop was catastrophic enough to be compared to that time.
[Experts are pouring out various opinions about Bitcoin’s decline this time.]
The world was in an uproar over Bitcoin.
Kang Hyeon, who had just woken up, also learned this fact through an alarm that came to his smartphone.
[Alert: Bitcoin price fluctuation detected]
[Current price: 105,662USD]
It was an alarm sent by the system.
$105,000.
It had dropped $10,000 overnight.
‘Did it fall 10 percent?’
It was a devastating drop that came in just a few hours.
He launched the Bitpie app to check his position.
[ROE 32.8%]
The return rate had increased to 32 percent.
Since he had entered at $126,000, it was almost like catching it at the peak.
‘The profit is $8.12 million, which is 11.8 billion won in Korean currency.’
He had made over 10 billion won in profit in just one night.
It was such an enormous amount that it seemed unbelievable.
“As expected, the larger the seed money becomes, the more exponentially the profits increase.”
There was a saying that money makes money.
To earn 100 million from 100 million required a 100 percent return rate, but earning 100 million from 1 billion only required a 10 percent return rate.
It was a structure where the larger the seed money, the easier it became to make money.
Of course, losses also increased proportionally, so as seed money grew larger, people tended to prefer stable investments.
However, Kang Hyeon had invested in cryptocurrency, which could be called the most aggressive investment.
And he had even used leverage.
Thanks to this, he had recorded over $8 million in profit overnight.
“To others, it’s high risk, high return. But not to me.”
Kang Hyeon’s gaze turned to the Bitcoin item.
“With just this ability… huh?”
Bitcoin’s name, which he thought would glow blue or red, was displaying a different color.
“Gray?”
It was a color he had never seen before.
What could this mean?
After thinking for a moment, Kang Hyeon came up with one hypothesis.
“Sideways movement?”
He wasn’t certain, but it was highly likely.
When it fell, it was blue; when it rose, it was red; and when a sector moved, it was displayed with a black net.
But stock prices didn’t always move with direction.
“There are times when they can’t determine direction and move sideways. That’s the most hellish time from investors’ perspective.”
It didn’t matter for traders like Kang Hyeon who caught it at the very top, or those who succeeded in catching a long position at the bottom.
But for traders who entered at mediocre positions, the time of sideways movement at ambiguous price levels was hell.
Since they never knew when the price would move, they couldn’t leave their monitors.
A situation where they couldn’t even sleep properly – if they couldn’t endure this time of adversity, it would inevitably lead to losses.
“Let’s go to work for now. I need to check what the situation is.”
A new discovery of his ability.
But he wasn’t surprised like before.
He had gotten somewhat used to it now, and the overwhelming return rate was making him relaxed.
* * *
Unlike the relaxed Kang Hyeon, the cryptocurrency community was literally in chaos.
-What’s with this sudden crash?
-Guys, this can be refunded, right?
LOL refund trip, that was funny.
I’m not joking around. Can’t I get a refund for this? I only bought it 3 hours ago. But suddenly a million won just disappeared.
Lol that’s pretty clever.
-I went long at dawn. Suddenly my money disappeared.
What magnification did you use?
What’s magnification? What is that?
Someone who doesn’t even know leverage is trading futures? lol
I used the exchange that a YouTuber recommended. What are futures?
Damn… got totally wrecked.
-Secret technique: Averaging down!
Do you have money for bottled water?
Debt: Loans
I’m jealous… You have loans coming out?
-Guys. Don’t panic. Just think it’s not your money and wait. Then it’ll eventually go up.
It’s because it’s not really my money!!
Posts filled with fear and despair.
But not everyone was like that.
-All the long-term holders got their heads chopped off, right?
-Hyung said it was short from a few days ago, didn’t he?
-It came up near the new high. You’re going long here? Take the hammer blow of shorts!
-(Photo) Burp-! I ate well and I’m leaving.
I ate it nice and sweet.
You’re already cleaning this up?
If it breaks $100k, it’s going to hell. They’re already closing positions.
A literally chaotic situation.
But even so, people were going to work and society was functioning.
“Good morning, everyone.”
“CEO, welcome.”
“Good morning!”
Kang Hyeon also arrived at the office on time.
Although it was still before work hours, all the employees had come to work and were preparing for their tasks.
Kang Hyeon distributed coffee he had bought from the cafe on the first floor to them.
“Everyone have a cup of coffee.”
“Thank you!”
“I’ll drink it well.”
“The morning meeting will start in an hour, at 10 o’clock.”
“Yes!”
Originally, investment companies don’t hold morning meetings at 10 o’clock.
It was the time when the market was actively moving.
However, KH Capital didn’t have any positions in the stock market yet.
So there was nothing strange about having a meeting at 10 o’clock.
When Kang Hyeon entered the executive office and was organizing his things, he heard a knock.
Knock knock!
“Sir, may I come in for a moment?”
“Yes.”
Once permission was granted, Kwangho entered, closed the door, and immediately got to the point.
“Did you see the Bitcoin price?”
“I saw it. Thanks to your system, I got an alert when I woke up.”
“Damn! But you’re this calm about it? Don’t tell me you closed all your positions?”
“No, they’re still there.”
“Really? Then how much profit is that? No wait, I shouldn’t ask about this stuff.”
Watching Kwangho change his stance without even taking a breath made him laugh.
“It’s fine. About 32-33% profit.”
“32%?! Did you use leverage?”
“2x. That was the maximum leverage on Bitpie.”
“Maximum leverage? What kind of scale did you trade at?”
“200 coins. About 25 million dollars.”
“Crazy…”
That was over 35 billion won in Korean currency.
To short that amount with leverage too.
“You’re not just beast-level, you’re a wild beast itself.”
The heart of a wild beast was the perfect description.
“You’re not still holding, are you?”
“I told you I’m still holding. I need to decide the direction after the morning meeting.”
“Huh… Alright, got it. If you have anything related you want to discuss, send it via messenger.”
“Okay.”
As he left the Executive Office, Kwangho glanced sideways at Kang Hyeon.
‘I closed my positions early even with my own seed money. How can he be so relaxed while holding a 25 million dollar position?’
A trader who had been handling massive funds from before might show such composure.
But Kang Hyeon wasn’t that type of trader.
Among traders, Kang Hyeon had dealt with small amounts, yet he showed such composure.
It wasn’t easy to understand.
‘Let’s focus on work first.’
One thing was certain.
Kang Hyeon was not the same Kang Hyeon he used to know.
* * *
Morning meeting.
The meeting began with Kim Ha-ryul’s report.
“Last night, not only cryptocurrencies but also US stock markets fell sharply. The trigger was US President Harvey Goldwin’s tariff press conference at dawn.”
Harvey Goldwin.
The US President who had the characteristic of being from a hotel conglomerate background.
His election seemed impossible, but thanks to shocking events including a shooting incident and the US electoral system, he won.
After becoming president, he continued with radical moves, and this tariff announcement was one of them.
“To think he’d wage a trade war against the entire world…”
Kim Seong-won, who seemed to know about the news, also shook his head.
Kang Hyeon had already checked the news on his way to work, so he quietly listened to Kim Ha-ryul’s report.
“Due to this incident, all indices including S&P 500, NASDAQ, and Dow Jones showed sharp declines simultaneously. I’ve written detailed information in the report, so please refer to it.”
The report was clean and easy to understand at a glance.
After checking the related content, Kang Hyeon asked.
“Let’s move on to cryptocurrencies.”
“Yes.”
Most people knew that the CEO had taken positions in cryptocurrencies.
Kim Ha-ryul also knew this, so she prepared an even more detailed report.
“Bitcoin’s decline was particularly severe. It’s confirmed that a squeeze occurred as all the long positions that had entered with high leverage were liquidated.”
Through her continued report, he could understand the general reasons.
A massive squeeze occurred in the coin futures side, and this affected even the spot market.
“Please continue to prepare reports at this level from now on.”
“Understood.”
“We need to begin full-scale operations from today. Manager Lim, please contact the broker at JP Morgan to prepare for trading.”
“What scale should we aim for?”
“Tell them about 20 billion won level. If my approval is needed, report separately.”
“Understood.”
There was already a 20 billion won account at IBKR.
But now creating another 20 billion won account?
Kim Seong-won was amazed at what level the CEO’s financial capacity was at.
“Employee Kim Ha-ryul, please prepare a report on what impact these tariff measures will have.”
“Understood.”
“Employee Kim Seong-won, please collect data on AI-related stocks. What you need to collect is whether there’s currently a bubble in AI, and find out what statements people with such views have made.”
“AI bubble? Don’t tell me you think there’s a bubble in AI, sir?”
“It’s within the realm of possibility. We need to keep all possibilities open and prepare in advance so we can respond when something really happens.”
“Ah, yes. Understood.”
“Well, let’s wrap up the meeting here.”
The morning meeting concluded.
* * *
As expected, Bitcoin continued to move sideways.
‘Since it moved so much at dawn, it’s been moving sideways for 8 hours.’
Time was already past 4 PM.
The price was still fluctuating between $103,000 and $106,000.
‘The longer the sideways movement continues, the more weight will inevitably shift toward the downside.’
Prices tended to continue in the direction once established.
So when prices reversed, strong movements would inevitably emerge.
That was necessary to give market participants a clear perception.
‘The light is still showing gray. It means the price will move sideways for a while…’
That’s when it happened.
The color seemed to flicker for a moment, then slowly began changing to red.
Soon, as the color turned completely red, Kang Hyeon’s hands moved quickly.
Click!
[Order has been received.]
Click!
[Order has been received.]
Every time his hands moved, orders for the positions he held were placed.
Since the position was so large, placing all orders at once would create a wall.
That could actually bring in buying pressure, so Kang Hyeon divided and closed his positions as much as possible.
The moment his rapidly moving hands stopped.
[Order has been received.]
The final order was placed.
It was an order to close all the volume he held.
The orders were filled quickly.
[Order has been executed.]
[Order has been executed.]
As quickly as the orders were filled, his profit realization occurred.
[PnL : 8,341,200USD]
8.34 million dollars.
The amount recorded from just one night’s profit was tremendous.
‘It’s not over yet.’
Although astronomical profits were recorded, Kang Hyeon didn’t stop.
His hands moved quickly, and this time he launched IBKR’s trading program.
‘Bitcoin rebounding means the reason for its fall has been resolved. In other words, there must be changes regarding tariff impositions.’
While organizing his thoughts, the program launched.
Without time to check the UI of IBKR’s dedicated trading program that he was accessing after a long time, he checked the indices.
And.
‘They’re glowing red.’
He could see all the indices glowing red.
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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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