I'm afraid of the crypto craze in Korea.

[just_Alice]

I think the general idea of Bitcoin and other cryptocurrencies is first and foremost freedom, independence from the established system, not to make the poor rich. It is no wonder that the gap is growing, everyone who knows how business works should've seen this coming.
On the other hand, you have to admit that it is much easier to invest in crypto than capital project investments, so, in a way, cryptocurrencies open doors for lower-class individuals to participate in at least some sort of investment. But naturally, the rich have more opportunities in all senses, so they can buy more coins and various types of crypto, increasing the chances of gaining profit significantly, and I guess it will continue on like that.

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[omone1]

The richer will always get richer, it's the people financial management that determines what they can save after their expenses. Some good number of persons lack financial intelligence and they never seek to take a course on that. The crypto massive interest is not limited to the Koreans it's a worldwide human psychological trend.

[Fatunad]

I think Korea is no different than others because anyone who invests in bitcoins will look to cash at some point and will speculate.

Well there is a big difference unfortunately OP have failed to bring some data to back up his comment on why it is getting "dangerous" in South Korea now. Like what I have said on my first post South Korea as of right now has a bigger volume on their crypto exchanges rather than their own stock market which means that a lot of their citizens' savings and capital are in a riskier market. Just imagine a whole nation will have their whole economy fall sharply when majority of their traders got victimized by a correction or a bearish reversal maybe some of them won't recover as their entire life savings is inside the crypto market. This is why the OP is worried about the crypto craze happening in their country.

Ah so that's what happened. Kinda confuses me when i first read what op stated. Like, isn't that what happened in a lot other places as well? Why is it that dangerous? because korea is just joining the trend? i don't think so.
But well, it might be worrying if people really prefer crypto instead of their stock market, especially because cryptocurrency is really volatile and risky, if a very huge amount of money is stored in cryptocurrency, and in worst case, it collapsed, then of course a huge uproar might happened there, the economy will really at the worst.

They wouldnt really be just making out those kind of decisions if they arent able to picture out on what are the probabilities of things that could possibly happen if they do able to do so.
Switching up fully to crypto is really that risky compared on dealing with their stocks.They are just been hyped too much with the craze? Everything should really be in controlled
because not all things that do looks good would really be already good on others as well. Always take out those second thoughts and think up carefully
on the possible actions that could be made.

[wxa7115]

100% agree with this sentiment.

Not just in Korea, but pretty much everywhere else as well.

The NFT craze is simply unsustainable. Altcoin valuations are through the roof. And even the most fundamental (and sane) asset in the cryptosphere, BTC, is arguably entering frothy territory.

There will be a time when this speculative bubble comes crashing down, although it is not entirely certain when that will be. It could well be years given the current sentiment.

We know that markets have the tendency to move on two emotions and those two emotions are fear and greed, once the growth of bitcoin stopped and failed to cross 60 dollars definitely the people instead of just accepting it decided to take a look at other coins and other forms of investment to see if they can keep making money and to their surprise they found out that they can in fact make even more money with those other coins because it is way easier to move them compared to bitcoin.

The problem comes with the fact that there is nothing behind many of those projects and once the bubble pops then the price of bitcoin will go down significantly but the price of those other coins is going to crash so hard that it is going to be impossible for anyone holding the bag to ever recover.