具有全球市场特征的虚拟资产市场

近年来，随着韩国政治环境的急剧变化，虚拟资产作为国内投资的替代品而受到关注。

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.

在韩国最近的政治动荡中，虚拟资产已成为寻求多元化投资组合的国内投资者的替代投资选择。这种兴趣源于这样一个事实：与传统股票或债券不同，虚拟资产在世界各地的交易所同时交易，为投资者提供了一种减轻与特定国家或地区相关的风险的方法。

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.

虚拟资产的这一特征在韩国政治环境的背景下尤为重要，这对国内股市产生了重大影响。 12月3日宣布紧急戒严令后，韩国交易所的比特币价格在数小时内大幅暴跌，而外汇价格基本未受影响。随着韩国局势稳定，这种被称为“泡菜溢价”的价格差距迅速缩小。

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.

由于这种现象，一些投资者推测虚拟资产可以作为对冲国内经济或政治风险的工具，从而导致人们对利用这些资产进行投资移民的兴趣增加。然而，市场专家建议不要以投资移民为幌子仓促做出投资决定，因为虚拟资产也有其固有的缺点，应仔细考虑。

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.

虚拟资产的主要缺点之一是全天候交易，这使得它们容易受到因特定事件或事件而导致的即时价格波动的影响。这种波动性，加上潜在的冲动投资，给投资者带来了巨大的风险。

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.

另一个需要考虑的因素是不同虚拟资产的不同流动性，这可能会影响执行交易的便捷性和速度。例如，虽然比特币具有高度流动性并且可以快速交易，但更新且波动性更大的虚拟资产在执行大额交易时可能会遇到延迟或困难。

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.

为了减轻这些风险并最大限度地发挥其投资潜力，专家建议重点关注在市场上长期存在的较旧且较成熟的虚拟资产，而不是较新且波动性更大的虚拟资产。这些较旧的硬币，例如比特币，通常具有更高的交易量和更长的跟踪记录，使它们更适合大规模投资策略。

Virtual Asset Market with Global Market Characteristics

具有全球市场特征的虚拟资产市场

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.

韩国宣布紧急戒严后，国内虚拟资产市场出现剧烈波动，价格短时间内大幅波动。 12月3日晚上10点30分，随着戒严令的宣布，韩国交易所的比特币价格大幅暴跌，几小时内从1.3亿韩元跌至8800万韩元。这种被称为“泡菜溢价”的价格差距迅速扩大到-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.

与此同时，外汇比特币价格基本没有受到该消息的影响，小幅波动。这种定价差异导致投资者可以在韩国交易所以较低的价格购买比特币，然后迅速转移到外汇以较高的价格出售，通过套利交易产生可观的利润。

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.

之所以出现这种现象，是因为比特币等虚拟资产不仅在韩国交易，而且同时在世界各地的交易所交易。当特定国家的比特币价格因特定事件或事件而下跌时，投资者可以以较低的价格购买该资产，然后迅速将其转移到另一个交易所以较高的价格出售，通过套利交易利用价格差异。

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.

由于这种相互关联性，虚拟资产往往在世界各地保持几乎相同的价格。尽管交易所位于包括韩国在内的每个国家，但市场本身在全球范围内运作。

Benefits of Global Investment and Quick Response to Foreign Exchange Losses

全球投资的好处和对外汇损失的快速反应

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.

虚拟资产市场的全球性为国内投资者带来了诸多好处。首先，由于不间断运行和实时结算，这些资产在出售时可以快速变现。

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，投资者通常会在按下卖出按钮两天后收到现金。然而，虚拟资产的买卖都是实时结算的，投资者可以立即收到代币和现金。实时结算时间为中午 12 点以及股市交易时间内上午 9 点至下午 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，尽管是一个全球市场，虚拟资产还具有能够快速应对外汇损失的优势。由于比特币的基础价格实际上是美元，因此根据美元的价值会有价格波动，但它可以通过实时结算快速响应。

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.

交易美股时，不会因结算时间而产生汇兑损失或汇兑收益。事实上，您不必记住汇率，因为您可以仅考虑比特币市场价格或预测来进行交易。

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，整个市场对区域性冲击的反应很快，因为它们是在全球范围内进行交易的。紧急戒严事件也成为整个虚拟资产市场调整的借口，尽管韩国虚拟资产市场很快恢复了泡菜溢价。

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

此前，美国监管收紧是全球虚拟资产市场受挫的一个因素。事实是