Bitcoin Still Has the Potential to Touch US$100,000 This Year, Reku Analyst Said

er several times reaching All-Time High (ATH) at 99,500 US dollars (Rp1.57 billion), Bitcoin was monitored to be corrected. Launching CoinMarketCap, the price of Bitcoin is currently at the level of 96,000 US dollars (Rp1.52 billion).

After touching an All-Time High (ATH) several times at US$99,500 (Rp1.57 billion), Bitcoin is now seen to be undergoing a correction. Based on CoinMarketCap, the price of Bitcoin is currently at the level of US$96,000 (Rp1.52 billion).

Responding to this condition, a crypto analyst from Reku, Fahmi Almuttaqin, said that the prospect for Bitcoin to penetrate the level of US$100,000 (Rp1.58 billion) by the end of this year is still open.

"Considering the trend of institutional investors' adoption that has the potential to grow, especially if companies like Microsoft decide to participate in adopting Bitcoin," Fahmi explained in a written statement quoted on Sunday, December 1.

So far, according to Reku, Bitcoin's performance throughout November experienced an increase of around 36 percent. This increase is also the fourth highest, following the price increase performance in November 2013 at 449 percent, 2017 at 53 percent, and 2020 at 43 percent.

"The U.S. election event and the continuation of the low interest rate trend play an important role in Bitcoin's performance this month, in addition to the market condition whose large cycle has entered the main rally period in the current bullish cycle," he added.

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According to him, when observed, 2013, 2017, and 2020 are the years when the main bullish phase rally in the crypto market began to occur. This means, Fahmi added, that there is a high potential for the possibility of continuing the increase in the price of Bitcoin from the current level.

In a longer time frame, the existing bullish trend still looks solid. However, Fahmi underlined that the signal formed is still quite early and has the potential to change.

"The corrected price of Bitcoin as it is today can be a potential for investors to explore the crypto market in order to look for growth opportunities for a longer period of time," he said.

For beginner investors, Reku suggests investing in crypto assets with a large market capitalization, such as Bitcoin, Ethereum, and several others that have large liquidity and are relatively safer.

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Tag: bitcoin teknologi