#我的Gate交易时刻

Riches myths are now everywhere in South Korea, with SpaceX going public and skyrocketing, and Korean retail investors making a fortune again.

Today, I saw news that on the day SpaceX went public, Korean retail investors bought $795 million worth, and in the first three trading days, it surged by 49%, earning nearly $400 million for Korean retail investors.

Now in Korea, the air is filled with the smell of money, as if making money in Korea is as easy as breathing. I heard that some retail investors who made big money have already bought luxury homes in Gangnam District (the wealthy area in Seoul where Psy sang "Gangnam Style"). The whole nation is immersed in the fantasy of easy wealth.

But looking at past capital bubbles, Korean retail investors are always the ones buying at the high points, and the brutal lessons from the crypto world are enough to warn everyone.

Korea has always been known for high-leverage speculation, with young people eager to jump the social ladder through speculation. The crypto market was once their main battlefield for getting rich quickly. During the 2017 and 2021 bull markets, stories of Korean retail investors doubling their coins and skyrocketing their wealth were everywhere online. The premium on kimchi coins kept rising, with countless people taking out loans to buy altcoins, firmly believing that the crypto market was a guaranteed way to get rich.

But after the celebration, a cliff-like crash followed, with the most tragic being the Luna collapse in 2022. In just a few days, the token nearly went to zero, with over 40 billion dollars in market value wiped out, and more than 200,000 Korean investors' savings evaporated. Many were left with huge debts, and the once-glorious myth of getting rich quickly turned into a pile of ruins.

Not only in the crypto world, but the 1997 and 2008 financial crises also replayed the same script: foreign capital withdrew early to harvest profits, Korean retail investors were blinded by short-term market movements and frantically increased their positions, ultimately getting deeply trapped.

Now, many crypto retail investors have shifted to trading SpaceX stocks in the US market, spreading rumors of easy wealth again. Their speculative mindset remains unchanged—they still ignore the fundamentals of assets and chase short-term gains just like before.

The logic of capital bubbles has never changed. The illusion of wealth created by short-term surges is ultimately a trap for institutions to offload their holdings.

The multiple crashes in the crypto world have long proven that the stage of nationwide frenzy and everyone showing off profits is often a sign of market top.

Whether in stocks or cryptocurrencies, blindly following trends and leveraging up to chase hot spots will only repeat the cycle of Korean retail investors repeatedly losing money. Speculative quick riches have always been a script for a few; most people will only become victims after the bubble bursts.