This should be the earliest in-depth report article in the cryptocurrency circle.
They had all gone to sleep, but something big happened in Korea, which jolted Juza out of bed.
Tonight, South Korean President Yoon Seok-yeol suddenly delivered an emergency televised speech and issued a martial law order.
Based on the current reasons, it is jaw-dropping:
This is because the opposition party approved less than 4.1 trillion won, or about 3 billion U.S. dollars, for special activities expenses of the Presidential Secretariat and the National Security Office, as well as expenses of the Prosecutor's Office and the Procuratorate.
This made Yoon Seok-yeol feel that he was being targeted. On the one hand, it was because he directly cut his own spending quota. On the other hand, it was because Yoon Seok-yeol himself was a prosecutor. During Moon Jae-in's term, he sent former President Park Geun-hye and former President Lee Myung-bak to prison, and then stabbed Moon Jae-in in the back to run for president and was successfully elected.
The opposition party's targeting is too obvious. On the one hand, it is directly restricting Yoon Seok-yeol's power from a economic level. On the other hand, it is because the opposition party is investigating his wife, the first lady Kim Gun-hee.
Moreover, Kim Gun-hee was previously arrested for accepting luxury bags, which forced Yoon Seok-yeol to apologize. But now the investigation has not only not stopped, but has been expanded.
On the one hand you are tightening your purse strings to cut off my foundation, and on the other hand you are setting up legal procedures to catch me in one fell swoop. You guys want to torture me, Yoon Seok-yeol, to death!
Yoon Seok-yeol, who was under pressure from all sides in terms of power, financial resources and personnel, activated his special presidential skills.
But it seems that the opposition party didn't buy it and started fighting with him directly. The leader of the opposition party, Lee Jae-myung, even publicly said that Yin Xiyue is no longer the president of South Korea.
As for what happens next, let’s leave it aside for now.
But the hearts of people in the cryptocurrency circle are really on a roller coaster ride.
The price of coins on Upbit, South Korea's largest exchange, fell rapidly in a short period of time, with Bitcoin even falling to more than 60,000 US dollars. Some websites in South Korea were also affected and could not even be opened.
After smelling the blood, a huge amount of funds were deposited into Upbit in a short period of time, with the purpose of buying cheap chips at the bottom.
In just a few dozen minutes, all the losses were recovered and the negative premium was basically wiped out.
I can only wish my friends who are quick with their hands good luck. You are really quick and you deserve to earn this money.
As a pure cryptocurrency person, Ju Zuo sees something different:
First of all, the importance of cryptocurrency is becoming more and more prominent. As written in the previous article, if something like the German mark and the gold yuan happens again, at least you have the option. You can exchange your assets for cryptocurrency to avoid having your wealth plundered.
Just like what happened in South Korea today, the exchange rate plummeted in a short period of time. If it continues to depreciate, what can you as an ordinary citizen do?
But there is a way to use cryptocurrencies. You can quickly switch to US dollars or Bitcoin to avoid passive asset depreciation. For details, please see the following article:
We will inevitably move towards a currency standard
Second, the more chaotic the world is, the more confidence people have in cryptocurrencies.
Look at this time when South Korea’s domestic market plummeted, how did the market react?
A large amount of funds were quickly deposited into the account - do you think there is more local money in South Korea or more foreign capital?
In fact, no matter where the money comes from, everyone has a common goal: I want to buy at the bottom!!!
Some people think that 60,000 bitcoins are too expensive. Who would have thought that there would come a day when 60,000 bitcoins would be snapped up?
This behavior actually revealed a very important signal, that is, everyone has reached a consensus on the value of cryptocurrency and has planted an anchor in their hearts - as long as you dare to drop outrageously, I dare to buy outrageously.
At least in the short term, no one will think about withdrawing funds from the crypto market.
This is definitely a big boon to the industry, because in the past market booms, you didn’t know what everyone was thinking, but this time in the face of crisis, everyone showed their psychological activities through their actions.
Very good, it looks like the bull market will be fine in the short term.
Don’t panic, keep playing and dancing!
Our good days are still ahead!
I am Ju Zuo, a man who focuses on recovering cryptocurrency assets and helping you get rich.