KBW Korea Notes: Fish Where the Fish Are I don’t think the bull market is over, it’s just a pullback. Both are safe-haven assets—gold has hit a new high, but Bitcoin hasn’t yet. There’s too much leverage, so clearing out leverage will continue to push the market up. Had some chats with a few OTC friends who do bulk trades. Some Chinese whales are selling $BTC, but traditional family offices are still buying. Nobody trusts the future of the U.S. dollar. Plus, no matter how the market is, you can always find opportunities to make money. Fear and chaos are the best times to act. As long as humans live on Earth, speak different languages, and have different lives, geographic arbitrage will always exist. Fish where the fish are. For example, Korean influencers have way more opportunities than Chinese influencers. Project teams give them better airdrops and unlocks because everyone wants to enter the Korean market, so they allocate more resources there. Even for offline events, they hand them over to reliable local partners to open up listing channels—the trading volume is just massive! Even though many people in this industry make money through scams and tricks, you still have to choose to be a trustworthy person. At the same time, you know your energy is limited, so you focus on subtraction. When you become an expert in a niche, you’ll know things others don’t, and people will come to learn from you. In the process of helping and sharing, the money naturally flows in. The starting point for everything is to first “benefit others” and solve real problems.