具有全球市場特徵的虛擬資產市場

近年來，隨著韓國政治環境的急劇變化，虛擬資產作為國內投資的替代方案而受到關注。

Amidst the recent political turmoil in Korea, virtual assets have emerged as an alternative investment option for domestic investors seeking to diversify their portfolios. This interest stems from the fact that virtual assets, unlike traditional stocks or bonds, are traded simultaneously on exchanges around the world, offering investors a way to mitigate the risks associated with a specific country or region.

在韓國最近的政治動盪中，虛擬資產已成為尋求多元化投資組合的國內投資者的替代投資選擇。這種興趣源於這樣一個事實：與傳統股票或債券不同，虛擬資產在世界各地的交易所同時交易，為投資者提供了一種減輕與特定國家或地區相關的風險的方法。

This characteristic of virtual assets is particularly relevant in the context of Korea's political environment, which has had a significant impact on the domestic stock market. Following the declaration of emergency martial law on December 3, bitcoin prices on Korean exchanges plummeted sharply within hours, while prices on foreign exchanges remained largely unaffected. This price disparity, known as the "kimchi premium," quickly narrowed as the situation in Korea stabilized.

虛擬資產的這項特徵在韓國政治環境的背景下尤其重要，這對國內股市產生了重大影響。 12月3日宣布緊急戒嚴令後，韓國交易所的比特幣價格在數小時內大幅暴跌，而外匯價格基本上不受影響。隨著韓國局勢穩定，這種被稱為「泡菜溢價」的價格差距迅速縮小。

As a result of this phenomenon, some investors have speculated that virtual assets could serve as a hedge against domestic economic or political risks, leading to increased interest in using these assets for investment immigration. However, market experts advise against making hasty investment decisions under the guise of investment immigration, as virtual assets also come with inherent disadvantages that should be carefully considered.

由於這種現象，一些投資者推測虛擬資產可以作為對沖國內經濟或政治風險的工具，導致人們對利用這些資產進行投資移民的興趣增加。然而，市場專家建議不要以投資移民為幌子倉促做出投資決定，因為虛擬資產也有其固有的缺點，應仔細考慮。

One of the main drawbacks of virtual assets is their around-the-clock trading, which makes them susceptible to immediate price fluctuations in response to specific events or incidents. This volatility, coupled with the potential for impulse investments, poses a significant risk for investors.

虛擬資產的主要缺點之一是全天候交易，這使得它們容易受到因特定事件或事件而導致的即時價格波動的影響。這種波動性，加上潛在的衝動投資，為投資者帶來了巨大的風險。

Another factor to consider is the varying liquidity of different virtual assets, which can impact the ease and speed of executing trades. For instance, while bitcoin is highly liquid and can be traded quickly, newer and more volatile virtual assets may experience delays or difficulties in executing large trades.

另一個需要考慮的因素是不同虛擬資產的不同流動性，這可能會影響執行交易的便利性和速度。例如，雖然比特幣具有高度流動性並且可以快速交易，但更新且波動性更大的虛擬資產在執行大額交易時可能會遇到延遲或困難。

To mitigate these risks and maximize their investment potential, experts recommend focusing on older and more established virtual assets that have maintained a presence in the market for an extended period of time, as opposed to newer and more volatile virtual assets. These older coins, such as bitcoin, typically have a higher volume of transactions and a longer track record, making them more suitable for large-scale investment strategies.

為了減輕這些風險並最大限度地發揮其投資潛力，專家建議專注於在市場上長期存在的較舊且較成熟的虛擬資產，而不是較新且波動性更大的虛擬資產。這些較舊的硬幣，例如比特幣，通常具有更高的交易量和更長的追蹤記錄，使它們更適合大規模投資策略。

Virtual Asset Market with Global Market Characteristics

具有全球市場特徵的虛擬資產市場

Following the declaration of emergency martial law in Korea, the domestic virtual asset market experienced a wild ride, with prices fluctuating drastically within a short span of time. At 10:30 p.m. on December 3, as the martial law was announced, bitcoin prices on Korean exchanges plummeted sharply, dropping from 130 million won to 88 million won in a matter of hours. This price disparity, known as the "kimchi premium," quickly widened to -40 percent.

韓國宣布緊急戒嚴後，國內虛擬資產市場出現劇烈波動，價格短時間內大幅波動。 12月3日晚上10點30分，隨著戒嚴令的宣布，韓國交易所的比特幣價格大幅暴跌，幾小時內從1.3億韓元跌至8800萬韓元。這種被稱為「泡菜溢價」的價格差距迅速擴大到-40%。

Meanwhile, bitcoin prices on foreign exchanges remained largely unaffected by the news, fluctuating within a narrow range. This disparity in pricing led to a scenario where investors could purchase bitcoin on Korean exchanges at a lower price and quickly transfer it to foreign exchanges to sell at a higher price, generating substantial profits through arbitrage trades.

同時，外匯比特幣價格基本上沒有受到該訊息的影響，小幅波動。這種定價差異導致投資者可以在韓國交易所以較低的價格購買比特幣，然後迅速轉移到外匯以較高的價格出售，透過套利交易產生可觀的利潤。

This phenomenon occurred because virtual assets such as bitcoin are not only traded in Korea but are simultaneously available on exchanges around the world. When bitcoin prices in a specific country decrease due to a particular event or incident, investors can purchase the asset at a lower price and quickly transfer it to another exchange for sale at a higher price, capitalizing on the price disparity through arbitrage transactions.

之所以會出現這種現象，是因為比特幣等虛擬資產不僅在韓國交易，而且同時在世界各地的交易所交易。當特定國家的比特幣價格因特定事件或事件而下跌時，投資者可以以較低的價格購買該資產，然後迅速將其轉移到另一個交易所以較高的價格出售，透過套利交易利用價格差異。

As a result of this interconnectedness, virtual assets tend to maintain nearly identical prices around the world. Although exchanges are located in each country, including Korea, the market itself operates on a global scale.

由於這種相互關聯性，虛擬資產往往在世界各地保持幾乎相同的價格。儘管交易所位於包括韓國在內的每個國家，但市場本身在全球範圍內運作。

Benefits of Global Investment and Quick Response to Foreign Exchange Losses

全球投資的好處和對外匯損失的快速反應

The global nature of the virtual asset market offers several benefits to domestic investors. Firstly, these assets can be quickly liquidated upon sale thanks to uninterrupted operation and real-time settlement.

虛擬資產市場的全球性為國內投資者帶來了許多好處。首先，由於不間斷運作和即時結算，這些資產在出售時可以快速變現。

In the case of stocks, investors typically receive cash two days after pressing the sell button. However, virtual assets are settled in real time for both buying and selling, allowing investors to receive coins and cash immediately. Real-time settlement continues at 12 p.m. as well as from 9 a.m. to 3:30 p.m. during the stock market operating hours.

就股票而言，投資者通常會在按下賣出按鈕兩天後收到現金。然而，虛擬資產的買賣都是即時結算的，投資者可以立即收到代幣和現金。即時結算時間為中午 12 點以及股市交易時間內上午 9 點至下午 3:30。

Additionally, despite being a global market, virtual assets also provide the advantage of being able to respond quickly to foreign exchange losses. Since bitcoin's base price is actually the dollar, there are price fluctuations depending on the value of the dollar, but it can respond quickly with real-time settlement.

此外，儘管是一個全球市場，虛擬資產還具有能夠快速應對外匯損失的優勢。由於比特幣的基礎價格實際上是美元，因此根據美元的價值會有價格波動，但它可以透過即時結算快速回應。

When trading U.S. stocks, there is no exchange loss or foreign exchange gain due to settlement time. In fact, you don't have to keep the exchange rate in mind because you can proceed with the trading considering only the bitcoin market price or forecast.

交易美股時，不會因結算時間而產生匯兌損失或匯兌收益。事實上，您不必記住匯率，因為您可以只考慮比特幣市場價格或預測來進行交易。

However, it is important to note that the entire market responds quickly to regional shocks because they are traded globally. The emergency martial law incident also served as an excuse for the entire virtual asset market to be adjusted, although the virtual asset market in Korea quickly recovered the kimchi premium.

然而，值得注意的是，整個市場對區域性衝擊的反應很快，因為它們是在全球範圍內進行交易的。緊急戒嚴事件也成為整個虛擬資產市場調整的藉口，儘管韓國虛擬資產市場很快就恢復了泡菜溢價。

Previously, tightening regulations from the U.S. was a factor that dampened the global virtual asset market. The fact that

此前，美國監管收緊是全球虛擬資產市場受挫的因素。事實是