Chapter 11
CHAPTER 11
When he turned on the news, the anchor was talking about the Bitcoin crash.
There was a time when all borders in the world were closed due to an epidemic called Corona. At that time, all global stock markets including Nasdaq, overseas futures, and FX, as well as cryptocurrencies, fluctuated. The overnight drop was devastating enough to be compared to that time.
The world became noisy with Bitcoin. Gang-hyeon, waking up from sleep, also learned the fact through the alarm on his smartphone.
[Current Price: 105,662 USD]
It was an alarm sent by the system. 105,000 dollars. It meant a 10,000 dollar drop overnight.
Did it drop 10 percent?
It was a desperate decline that came in just a few hours. He executed the BitFi app and checked the position.
The return on equity increased to 32 percent. Since he took it at 126,000 dollars, it meant he caught it almost at the highest point.
The profit is 8.12 million dollars, 11.8 billion in Korean Won.
He made a profit of over 10 billion won in just one night. It was an enormous amount to the point of wondering if this made sense.
"As expected, the larger the seed, the more geometrically the profit increases."
There was a saying that money makes money. To make 100 million from 100 million, a 100 percent return rate was needed, but from 1 billion to 100 million, only a 10 percent return rate was required. It was a structure where it became easier to make money as the seed grew.
Of course, since losses also increase proportionally, stable investments are preferred as the seed grows. However, Gang-hyeon invested in cryptocurrency, which can be called the most aggressive investment. That too utilizing leverage. Thanks to that, he recorded a profit of over 8 million dollars overnight.
"To others, it's high risk high return. But not to me."
Gang-hyeon's gaze headed to the Bitcoin ticker.
"With this ability... huh?"
The name of Bitcoin, which he thought would glow blue or red, was showing a different color.
"Gray?"
It was a color seen for the first time. What does this mean? Gang-hyeon, pondering for a moment, made one assumption.
"Is it sideways?"
It wasn't certain, but the possibility was high. When falling, it was blue, when rising, it was red, and when a sector moved, it was displayed as a black web. However, stock prices didn't always move with a set direction.
"There are times when it goes sideways without deciding a direction. That time is the most hellish time for investors."
It didn't matter to traders who succeeded in taking a short at the very top or a long at the very bottom like Gang-hyeon. But for traders who entered at an ambiguous position, the time going sideways in an awkward price range was hell. Since they didn't know when the price would move, they couldn't leave the monitor. A situation where they couldn't even sleep properly, if they couldn't endure this time of adversity, it was bound to lead to loss eventually.
"Let's go to work for now. Since I have to check what the situation is."
New discovery of the ability. But he wasn't surprised like before. He had become somewhat accustomed to it now, and the overwhelming return rate was making him relaxed.
Unlike the relaxed Gang-hyeon, the cryptocurrency community was literally a mess.
— What kind of crash is this suddenly?
— Guys, this can be refunded right?
└ Refund drip lol funny.
└ Not a drip. Can't this be refunded? It's only been 3 hours since I bought. But suddenly a million won disappeared.
└ lol novel.
— I took a long at dawn. Suddenly money disappeared.
└ What leverage did you use?
└ Leverage? What is that?
└ A guy who doesn't even know leverage does futures? lol
└ I did it at an exchange recommended by a YouTuber. What are futures?
└ Wow... got bamboozled.
— Secret technique: Water riding (Averaging down)!
└ Do you have money to water ride?
└ Secret technique: Loan
└ Envious... you have a loan available?
— Guys. Don't panic. Just think it's not my money and wait. Then eventually upward curve.
└ Because it's really not my money!!
Posts alternating between fear and despair. But not everyone was like that.
— Long stones all got their heads cut off right?
— Hyung said it was short from a few days ago right?
— It came up near the new high price. Taking a long here? Receive the iron mace of short!
— (Photo) Burp-! Ate well and leaving.
└ Ate sweetly.
└ Clearing this already?
└ It's hell if 100,000 dollars breaks. Clearing this already.
Literally a chaotic situation. But nevertheless, people went to work and society was running.
"Good morning everyone."
"CEO, welcome."
"Good morning!"
Gang-hyeon also went to the office on time. Although it was before work hours, all employees were present and preparing for work. Gang-hyeon distributed coffee bought from the cafe on the 1st floor to them.
"Everyone have a cup of coffee."
"Thank you!"
"Will drink well."
"The morning meeting will start in an hour, at 10 o'clock."
"Yes!"
Originally, investment companies didn't hold morning meetings at 10 o'clock. Because it was a time when the market was actively moving. However, KH Capital didn't have a position in the stock market yet. So it wasn't strange to have a meeting at 10 o'clock. When Gang-hyeon entered the CEO office and was organizing his things, a knock was heard.
"CEO, may I come in for a moment?"
"Yes."
When permission fell, Gwang-ho entered, closed the door, and brought up the main point immediately.
"Did you see the Bitcoin price?"
"I saw. Thanks to your system, there was an alarm when I woke up."
"Wow sh*t! But you're this calm? Don't tell me you cleared all positions?"
"No, it's as is."
"Really? Then how much is the profit? No, shouldn't ask things like this."
Laughter came out seeing Gwang-ho changing his stance without even breathing.
"Doesn't matter. It's 32~3 percent profit."
"32 percent?! Did you take it with leverage?"
"2 times. That was the limit leverage at BitFi."
"Limit leverage? What scale did you take it at?"
"200 pieces. Roughly about 25 million dollars."
"Crazy..."
It's an amount over 35 billion in Korean Won. To think he took that as a short, and with leverage too.
"Not at the level of a beast, but a monster itself."
It was an expression where 'beast's heart' fit perfectly.
"Don't tell me you're maintaining it?"
"I said maintaining. I have to decide the direction after the morning meeting."
"Ha... understood for now. Send a message if you have anything to say regarding this."
"Okay."
Leaving the CEO office, Gwang-ho glanced at Gang-hyeon sideways.
Even I cleared the position early with my seed. How is he so relaxed holding a 25 million dollar position?
If he were a trader handling huge funds from before, he might show such leisure. But Gang-hyeon wasn't that type of trader. Gang-hyeon handled small amounts even among traders, but such leisure. It wasn't easily understood.
Let's work first.
One thing was certain. The fact that Gang-hyeon was not the Gang-hyeon he knew before.
Morning meeting. The meeting started with Kim Ha-yul's report.
"Overnight, not only cryptocurrency but US stock markets also fell sharply. The tariff press conference of US President Harvey Goldwin at dawn became the trigger."
Harvey Goldwin. As the President of the United States, he had the characteristic of being a hotel tycoon origin. Although election seemed impossible, he was elected thanks to the shocking event called shooting incident and the US election system. After becoming president, he continued unconventional moves, and the tariff announcement popped this time was it.
"To think he would wage a trade war against the whole world..."
Perhaps knowing the news, Kim Seong-won also shook his head. Since Gang-hyeon also knew the fact checking news on the way to work, he listened to Kim Ha-yul's report quietly.
"Due to this incident, all indices including S&P 500, Nasdaq, and Dow Jones showed a plunge in unison. I wrote detailed contents in the report, so please refer to it."
The report was neat and good for grasping contents at a glance. Gang-hyeon, checking related contents, asked.
"Let's move on to the cryptocurrency side."
"Yes."
Most knew that the representative took a position in cryptocurrency. Kim Ha-yul also knew that, so she made a more detailed report.
"Bitcoin's drop was particularly large. It was confirmed that a squeeze occurred as all long positions entered with high leverage were liquidated."
As her report continued, he could grasp the rough reason. Massive squeeze occurred in coin futures and that affected up to spot.
"You can write reports of this level in the future too."
"Understood."
"We have to enter full-scale work from today. Department Head Im, please contact the broker on the JP Morgan side and prepare for trading."
"What level should the scale be?"
"Convey that we do it at the 20 billion won level. If my approval is needed, report separately."
"Understood."
There was already a 20 billion account on the IBKR side. But making a 20 billion account again? Kim Seong-won clicked his tongue at what level the representative's capital power was.
"Employee Kim Ha-yul, please write a report on what impact this tariff measure will have."
"Understood."
"Employee Kim Seong-won, please collect data on AI-related stocks. What you need to collect is whether there is currently a bubble in AI, and look for what remarks people with such views made."
"AI bubble? Does the representative surely view that there is a bubble in AI?"
"It's an area of possibility. We have to open all possibilities and prepare in advance so we can cope when things really happen."
"Ah, yes. Understood."
"Now, let's wrap up the meeting here."
The morning meeting was concluded.
As expected, Bitcoin continued to go sideways.
Maybe because it moved like that at dawn, it continues sideways for 8 hours.
Before he knew it, time was passing 4 PM. The price was still fluctuating between 103,000 and 106,000 dollars.
The longer the sideways time, the more weight has to go to the downside.
Price had a tendency to keep going in the direction once decided. So when the price reversed, strong movement was bound to come out. Because only then could it give a certain perception to market participants.
The light is still appearing gray. That the price will go sideways for the time being...
It was then. The color seemed to twitch for a moment, then began to slowly change to red. Soon, as the color became completely red, Gang-hyeon's hands moved quickly.
Every time his hand moved, orders for positions he held went in. Since the position was so large, putting all orders at once becomes a wall. Then buying momentum might come in rather, so Gang-hyeon split and cleared the position as much as possible. The moment his hand moving quickly stopped.
The last order went in. It was an order clearing all volume he held. Orders were filled quickly.
[Order has been executed.]
His profit realization was achieved as quickly as orders filled.
8.34 million dollars. An enormous amount was stamped for just one night's profit.
It's not over yet.
Although astronomical profit was stamped, Gang-hyeon didn't stop. His hand moved quickly and this time executed IBKR's trading program.
Bitcoin rebounding means the reason it should fall has been resolved. In other words, it's clear there will be a change regarding tariff imposition.
While organizing thoughts, the program was executed. Without time to check the UI of IBKR's dedicated trading program entered after a long time, he checked the indices. And.
It's glowing red.
He could confirm all indices glowing red.
(End of Chapter)
— Translated by Prime Works —