After the Divorce, I Found a Thousand Bitcoins - Chapter 9

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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 009

Kang Hyeon entered the room that would serve as his office.

Since all the systems were already installed, he turned on the computer and launched charts on the monitors.

The assets were Bitcoin and major altcoins.

The four monitor screens were soon dominated by dozens of charts.

It was a screen that would make any ordinary person dizzy at first glance, but Kang Hyeon examined it carefully.

‘Even when moved to the monitors, I can see the black web. All the coins are connected.’

Coin assets were a bit different from stocks.

Stocks weren’t all connected to each other, but were connected by sector.

On the other hand, all coins were bundled into one sector.

This was because altcoins were originally derivatives of Bitcoin.

Moreover, Bitcoin held more than 50 percent of the market weight.

In other words, if Bitcoin fell, other assets would inevitably be affected as well.

‘This black web is telling me that the assets are connected to each other. They move together because they’re influenced by each other.’

He had found the answer to the black web that had been shrouded in fog.

What remained was the direction.

‘This time I was able to confirm the direction before the web appeared. Coins are turning into a bear market.’

The bear market that could be predicted from the intensely shining blue light would be quite severe.

Perhaps he should even consider the possibility of an ice age like the one that lasted from 2017 to 2018.

At that time, Bitcoin had fallen to around 3 million won in Korean currency, completely disappearing from the memory of domestic investors.

‘I need to move.’

Compared to Jeong Sang-woo’s case, the coin bear market was likely to progress rapidly.

He needed to liquidate all the physical Bitcoin he owned while taking other positions.

‘I’ll enter a short position.’

Short position.

It meant taking a position on a specific asset’s price falling.

For example, if you entered a Bitcoin short position, you could only profit if Bitcoin’s price fell.

Conversely, if Bitcoin’s price rose, you would incur losses.

‘Since Korean Exchange doesn’t allow shorting, I’ll need to create an account on a Foreign Exchange.’

Having made his decision, Kang Hyeon moved quickly.

* * *

Kwangho’s gaze naturally turned toward the office as he continued his work.

‘That guy was saying strange things. Now he suddenly went in there and it’s quiet.’

Don’t trade Bitcoin.

This was his precious side business.

Although he wasn’t doing long-term investments, he made decent profits with day trading.

But don’t do it for a while?

He couldn’t understand it.

‘He’s never interfered with positions before. Did he see something?’

Kang Hyeon had changed a bit recently.

After his divorce, he found a thousand bitcoins and became somewhat bold.

Setting up a Family Office was also a bit unexpected.

‘To be honest, he wasn’t particularly outstanding in the trading department. But now he wants to do direct trading.’

People might change when they have more money, but at least Kang Hyeon, as a friend, wasn’t that type of person.

‘I’ll be able to tell this time.’

He planned to watch how Bitcoin moved for now.

‘If it really falls as he said, I can follow along and enter too.’

Although he was more focused on programming, Kwangho was also someone who had worked at a Securities Company.

He had already calculated in his head how to move.

Tap tap tap!

Just then, Kang Hyeon’s hands moved rapidly.

With only the two of them there, the keyboard sounds echoed even louder.

Unable to overcome his curiosity, he got up from his seat and approached.

“What are you doing?”

“Creating an account on Bitpie.”

“Bitpie? What are you going to do by creating an account on an overseas Exchange?”

“I’m going to take a short position.”

“Do you really think it’s going to fall?”

“Yes. If you look at the charts on the left monitor above, the RSI is already raising prices while in the overbought zone.”

RSI, one of the chart indicators.

When it shows above 70, it means an overbought zone and signals that it could fall at any time.

“You’re entering based on just this one thing?”

“It’s not just that. Based on monthly and weekly candles, the price is rising while volume is decreasing. It’s a pattern commonly seen in overheated assets. Moreover, Bitcoin has historically continued falling patterns after reaching peaks following halvings.”

Bitcoin wasn’t a coin that could be generated infinitely.

A maximum of 21 million coins would be issued. As this number increased, the difficulty of mining became higher.

This period when difficulty increased was called a halving.

“You mean history repeats itself?”

“It’s a commonly seen fractal structure.”

Fractals were more of a mathematical theory than a chart trading technique.

Among traders, it meant patterns that showed repetitive structures over certain periods.

“Hmm, various factors are certainly overlapping.”

“Right. There’s no need to take the risk of trading in a structure where these patterns interlock.”

“So you’re taking a short for hedging?”

If Bitcoin’s price fell, its value would decrease.

If he only held Bitcoin as physical assets at the current price of around 170 million won, Kang Hyeon’s wealth would inevitably fall exponentially.

But what if he held physical assets and took a short position?

Even if the price fell, the number of bitcoins would effectively increase, allowing him to reduce losses.

This was called hedging.

However, that wasn’t what Kang Hyeon was thinking.

“The bear market might be prolonged. If I keep holding coins as they are, my funds will be tied up for a year. That would have been fine before, but not now.”

It would be fortunate if this bear market ended with just coins.

But the light that Kang Hyeon could see was telling him something.

‘If this black web is real, there’s a possibility of a chain decline in AI as well. That would mean an AI bubble.’

The worst-case scenario was unfolding.

* * *

Bitcoin was running at an all-time high.

With the leader running, the altcoins below it also ran at their own pace, continuing their upward trend.

In short, it meant a money feast was taking place.

Naturally, rosy forecasts poured into coin communities.

-Are there still any short bugs shorting Bitcoin?

-(Link) Bitcoin will break through $200,000!

-The US is issuing stablecoins.

-Whiterock guys entered Ripple.

-Finder is also increasing coin allocation.

-Basically all the big three have entered.

-Honestly, I don’t understand office workers who commute every morning or self-employed people struggling with business. You just click and money gets copied. Why work so hard?

-Just go long and money gets copied lol

Stories of making money poured in from everywhere.

News also flooded in about the world’s top three asset management companies – Whiterock, Finder, and Union Street – increasing their coin allocations.

However, not everyone was talking about rosy prospects.

-Seeing all the kids shouting long long, looks like a drop is coming soon.

-Historically, it peaks after the halving and then falls.

-History repeats itself.

-I can clearly see the fractal pattern. They’re going long on this ㄷㄷ

-Looking at the community reaction, this is really the start of a bear market.

-Let’s go short~!

Others who saw shorts like Kang Hyeon also appeared.

However, their voices were relatively small.

The market was dominated by bulls and bears had no choice but to cower.

At this time, one post caught the attention of coin traders.

-Korean Bitcoin 1,000 holder cleared most of his coins?

For real?

Yeah. Recently moved on a large scale.

Did you cash out your profits and go live your real life?

Yeah, seems like it.

The once-hot Korean whale had cleared his coins.

There were many opinions about the whale who had been sleeping for 13 years clearing his holdings.

Among them was mockery.

-They’re clearing out that volume in this bull market lol

-If he had left it alone, the money would have multiplied.

-He was just a lucky guy.

-If it were me, I would have left it until $1 million per coin.

-Confirmed paper hands.

Most people mocked the owner.

Naturally, this was based on the thought that Bitcoin would rise further.

But it wasn’t long before such public opinion changed.

-Huh? Why is Bitcoin falling?

Don’t you know what healthy adjustment is?

I was wondering how much it dropped. It only fell by a measly 5 thousand dollars.

-It’s still at $120,000? It hasn’t fallen at all?

-We need to gather some momentum to break through $130,000.

A red candle showing a $5,000 drop was formed in an instant, but the community still believed it would rise.

* * *

Kang Hyeon looked at the profit rate displayed on his monitor.

[Profit Rate: +3.98%]

[Profit: 1,002,230USD]

Just one day after taking the position.

Bitcoin showed a $5,000 decline and accordingly Kang Hyeon’s position closed in the positive.

‘At the current exchange rate, that’s over 1.4 billion won.’

By putting in 200 bitcoins and using 2x leverage, profits certainly rose quickly.

Actually, he wanted to use higher leverage, but he couldn’t.

‘I didn’t know since this was my first time with coin futures. I didn’t know they would limit leverage as the margin gets higher.’

Perhaps it was natural.

Without leverage limits, exchanges could go bankrupt if something went wrong.

To prevent such incidents, most major exchanges applied differential leverage.

Kang Hyeon’s margin was classified as the highest tier on the exchange, so he could only use minimal leverage.

‘Well, it doesn’t matter. I can profit even when it falls.’

Though disappointing, nothing changed.

Bitcoin would decline.

He had to watch the situation for a while and respond accordingly.

Then he heard a knock.

Knock knock!

“Come in.”

It was Kwangho who opened the door and entered.

He poked his head in and spoke to Kang Hyeon.

“CEO, all employees have arrived for work.”

Since it was an official setting, he used formal titles.

No matter how close they were as friends, this was natural in a company.

“I’ll come out now.”

He got up from his seat and straightened his appearance.

‘I’m nervous.’

This was the first day meeting all employees.

Since it was the official start, being nervous was unavoidable.

Kang Hyeon finished preparing and opened the door to come out.

He saw five male and female employees gathered together.

They were personnel who would handle risk, back office, and trading assistance respectively.

Just as Kang Hyeon stood next to Kwangho and was about to speak after examining the employees’ faces.

[Ding-!]

An alert that rang throughout the quiet office drew everyone’s attention.

The source of the sound was Kwangho’s desk.

At the sound from the speaker, Kwangho calmly checked his monitor without panicking.

Kang Hyeon also looked at the screen over Kwangho’s shoulder.

[Rapid Price Movement Detected]

A warning window appeared on the monitor.

Beyond it was a Bitcoin chart.

“Kang Hyeon!”

In the urgent situation, Kwangho unconsciously dropped the formal title.

But that wasn’t what mattered right now.

“Let’s do introductions later. Trading team, please analyze charts for Bitcoin and cryptocurrencies in general right now.”

“Understood.”

“Yes.”

“Research team, please gather information and send it to me.”

“Yes!”

Kang Hyeon gave quick and concise orders and headed to his office.

Kim Seong-won, an employee from the trading team, watched the CEO and asked Kwangho.

“Manager, does our company currently have a position in Bitcoin?”

“That’s right. We’ve been holding a short position since yesterday.”

“Short? A short position on Bitcoin which has been rising day after day…”

One of the iron rules of trading is not to go against the market.

No matter how excellent a trader is, they cannot analyze the psychology of people caught up in madness.

Therefore, unless reversal signals appear, they don’t go against market flow.

To Kim Seong-won who was harboring doubts, Kwangho turned his monitor to show him.

“It seems our CEO is one step ahead of the market?”

“Excuse me?”

Kim Seong-won looked at the monitor with a face asking what that meant, and surprise appeared on his face.

[BTC: -3.55%]

[Current Price: 116,704.5USD]

Bitcoin was continuing to decline.

“By the way, the CEO took his position around $126,000.”

“Wow… So he’s already seeing around 7% profit?”

As expected, he’s someone worthy of joining the trading support team.

He finished the calculation in one go and reverse-calculated the profit rate.

“Bingo.”

As he answered, Kwangho’s gaze turned toward the CEO’s office.

There was Kang Hyeon, keeping his eyes on the monitor.

‘Since when did he become so good at trading?’

He had watched everything from the side.

How Kang Hyeon viewed the market.

And how he generated profits.

It was still early to tell, but he had to admit that his trading skills had improved far beyond what he remembered.

What he needed to do at times like this was.

“Alright everyone, let’s get to work as the CEO instructed! We’ll do introductions when the market calms down!”

“Yes!”

To get his subordinates moving.

Oh right, before that.

‘Should I try going short too?’

This is when you benefit from having a friend like this.

Kwangho’s hands moved quickly.

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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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