the predicted crash
The victory in the 2017 presidential election went, as everyone expected, to the candidate of the current ruling party.
Eugene sent a congratulatory message to the newly elected president-elect, who held Eugene’s message and swung it out in front of the camera.
It was intended to show that he is being supported by Eugene, who continues to support him like the deterioration of the entire nation.
“Thanks to Chairman Kang’s help, this election was able to be held without much trouble.”
And the very next day, Eugene welcomed a special envoy from Korea who flew quietly under the direction of the president-elect.
“Well, I’m glad it was helpful.”
Eugene did not deny that he had a hand in the election.
There are moments when modesty is necessary, and vice versa, and now it is clearly the latter.
“There was a message from the elected president that he would be grateful if you would participate in the presidential inauguration ceremony to be held in February next year.”
“Unfortunately, I cannot afford to go to Korea for the time being. Instead, I will attend if it is okay with the representative of the Korean corporation.”
“If you are busy, you should. It’s okay, haha.”
To Eugene, who refused with a single knife, the presidential-elect’s special envoy could not express even a single word of sadness.
The biggest variable in this presidential election was Eugene, and he needed his help as the new government worked in the future.
It was clear that if the big brother, who promised a huge investment of 400 trillion won over the next four years, changed his mind, the inflated people would turn their disappointment to the politicians.
“If there is anything that President Kang needs to do in the future, please tell me right away.”
It means you are willing to pay the price for victory. Of course, it’s not free. This is because it is expected that Eugene will continue to invest in the Korean economy in the future.
It would not be wrong to say that the success or failure of this administration depends entirely on Eugene’s actions.
In a sense, it was safe to say that the new government and Eugene were on the same boat.
“The Daeyang Group issue will be resolved as soon as possible as soon as a new government is inaugurated.”
“It will go smoothly. We expect that it will be resolved in accordance with the laws and principles and principles.”
Eugene did not comment on the Daeyang Group any further. But the other party seemed to take it much more seriously.
“Of course. Of course, there will be reasonable measures according to the laws and principles.”
The new government is by no means free to give direction to the judiciary.
But even so, the new president will not be able to avoid seeing the slightest bit of attention.
The special envoy to the president was welcomed by Eugene and had a comfortable rest for a few days before returning home.
Contrary to the envoy’s rant, the handling of the Daeyang Group did not show any signs of being easily resolved.
This is because the trial against the Daeyang Group owner’s family had not ended.
[On the 9th, the 7th trial of President Ryu Geun-ho of Daeyang Motors, who was charged with violating the Capital Market Act and the Financial Investment Business Act, was held in Part 22 of the Criminal Settlement of the Seoul Central District Court on the 9th. The defense team continued to argue that the prosecution’s indictment was wrong. The person in charge of accounting for Daeyang Motors, who appeared as a witness, said that it had nothing to do with the company’s president, and made it clear that the responsibility rests with him.]
The conflict between Eugene and the Daeyang Group is well known to any Korean.
A series of unscrupulous incidents between the supply chain between his father’s company and Daeyang Heavy Industries, or between Eugene’s former fiancee and the third generation of Daeyang Group, once shook up Korean society.
Any great event tends to be erased from people’s minds over time, but due to the continued insolvency of the Daeyang Group or the success of Eugene, this issue has been attracting people’s attention.
The relationship between Eugene, who is now a citizen of the United States, but still shows great affection for Korea, and the once-third-largest chaebol group in South Korea, which is now on the verge of dissolution because the group is finally torn in two due to various immoral management beyond poor management. still aroused great interest whenever it was mentioned in the media.
And regardless of the regime’s intentions, the trial against the Daeyang Group’s owner family continued to be delayed. It’s been over a year and even the first trial hasn’t ended.
The regime was about to close the knot quickly and move on to the next step in the dissolution of the Daeyang Group, but the lawyers of the Daeyang Group owner’s family were very skillfully extending the trial period.
Daeyang Motors’ president is represented by KCK, the best law firm in Korea, where even the prosecution and the courts are told that they refer to their defenses.
So far, he has been in charge of numerous chaebol-related lawsuits, and no matter how serious a crime is, he has never finished it beyond probation.
People were arguing, paying attention to whether KCK would return to victory again this time.
Meanwhile, Eugene was busy with another big event.
As of January 2018, the trend of cryptocurrencies was unusual.
Bitcoin formed an unprecedented price of $30,000, and the prices of altcoins such as Ethereum and Ripple were also rising to the ceiling.
People thought that Bitcoin had crossed the $30,000 mark, so other powerful coins would follow suit, and they were starting to buy even if they had a small amount of money.
No one seemed to think that going in now was a matter of getting into a routine.
Then, on February 17th, after hitting a high of $35,000, the day after that, it immediately dropped $5,000 to move back and forth between $29,500.
“Does the Bitcoin price seem a bit risky?”
“That’s right. Did it fall below $30,000 yesterday?”
“uh. It’s been almost a full month.”
It was a fatal blow for the Chinese and Russian governments to announce that they would start regulating cryptocurrencies almost simultaneously at a time when the price was at an all-time high.
Russia’s central bank said it would ban access to cryptocurrency exchanges for its citizens, and around the same time the Chinese government also introduced a policy to curb bitcoin mining in China.
The announcement of regulations in these two countries, which were the most important countries in the cryptocurrency market along with the United States and Japan, immediately drew a reaction from the market.
“The fall is too big. It’s like a market panic when it drops 15% in one day.”
“Probably right. I think it will fall even more terribly in a little while.”
“iced coffee… … Would it? Well, it doesn’t really matter since I almost sold the coins I had anyway.”
Yoosung sold the cryptocurrency he had in a thrifty manner. It is said that the remaining cryptocurrency in hand now is less than 10% of what it was in its prime.
It did not seem to have had a major impact on the market as it was sold calmly over a long period of time.
“I sold almost all of the bitcoin I had. For about 800,000 units, the average sale price is $29,000, which is a little over $23 billion. Ethereum sold about 8 million units. Selling at an average of $3,200, $25 billion. And Litecoin sold 6 million for $800, Ripple sold 10 billion for $4.3.”
If you add up the last sale, you could get a huge sum of $140 billion.
It has earned enough to be able to hear the voice of the world’s number one wealthy only by investing in coins.
The original price of Bitcoin, which originally stopped rising at the $20,000 level, soared to $35,000, and other cryptocurrencies also rose significantly more than the original price.
Thanks to this, Eugene was able to earn much more satisfactory profits than expected.
This is all thanks to Eugene’s direct control of the cryptocurrency trading market and attracting some rejections.
However, Eugene is well aware that the profits he has made now are still only a fraction.
In the future, the cryptocurrency market will fluctuate again and again, and each time it does, you can collect a huge amount of transaction fee income as well as additional revenue.
“For the time being, everyone will be busy selling, so I’m preparing.”
Eugene, who originally remembered that the bitcoin price plummeted around this time, only thought that something was coming.
“okay. If your mind freezes, that’s the end of it. But how far will the decline go?”
“Well? That’s something no one knows.”
“That’s it. ‘Cause everyone’s wrong On our side, more than half of those who analyze yesterday’s crash will be a stepping stone for a rebound.”
“okay. It’s a market that you can’t really look forward to.”
And that afternoon, the price of Bitcoin fell again by $3,000. The market plunged into a deeper panic.
“I got my $30,000 back. I’m really ’cause I don’t know really.”
Three days later, for some reason, the price skyrocketed, exceeding $30,000 again, and the number of sales was huge.
When the price fell to the low $20,000 the previous day, people who had been watching for a long time seemed to think that now was an opportunity to buy, so they rushed to pick up the coin that had fallen in half.
“No one can properly predict this until it happens. this is the one… … .”
Yoosung has a bunch of investment professionals who are paid quite a bit.
However, none of them could accurately predict the price of cryptocurrencies.
In fact, no one can predict the market trend in advance in such a rapidly changing situation.
“In the end, it’s best to look at it from a macro perspective.”
“i think so too. Even if you are a coin expert, you are only in a hurry to follow the market flow.”
“But it’s not really macro-predictable either.”
“Is it just a coin? Whether it’s stocks, bonds, or the spot market, it’s all the same. However, there are experts in each field.”
“It is definitely difficult. Anyway, based on the reports of analysts, I have no choice but to make various long-term plans and adapt them to the situation. Anyway, I don’t think I will ever invest in cryptocurrencies or stocks. It seems impossible to predict the future at all. In fact, it’s like matching the front and back of the coin.”
From the perspective of operating a cryptocurrency exchange, Yoosung could only express it that way.
Like Yooseong’s story, the cryptocurrency market was followed by a chaotic period in which it was impossible to really look ahead.
It was not uncommon for 10% to 20% to go up and down in one day, and even thousands of dollars could fall and rise in an hour.
The ironic state of the market was both panic and boom at the same time. And such a chaos situation was not bad for Eugene or Yooseong.
No, in a way, it was a waiting situation.