Jakarta –
Digital asset prices Bitcoin rose again and touched an all-time high, around US$ 99,800 or Rp. 1,584,325,000 per coin (exchange rate Rp. 15,875/US dollar) in trading last Friday (22/11). This is the third week that the price of the crypto asset has risen in a row.
However, not long after touching a new record high above US$ 99,800, the Bitcoin price then corrected again and was at around US$ 99,383 or Rp. 1.57 billion (Rp. 1,577,705,125). So this well-known digital asset recorded an increase of only 1.33% in yesterday’s trading.
Launching from ReutersSaturday (23/11/2024), the increase in Bitcoin prices occurred after Donald Trump won the US Presidential Election about two weeks ago. Because he is a pro crypto figure.
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Not to mention that since being elected president, Trump has elected many pro-crypto lawmakers to the US Congress. So there are quite a lot of investors taking an interest in this digital asset again which makes the price continue to soar.
“Bitcoin’s value has more than doubled this year and is up around 45% since Trump’s landslide victory in the general election on November 5,” wrote Reuters in its report.
Overall, the largest crypto asset in the world will experience a price increase of up to 130% throughout 2024, and is expected to continue to increase with momentum of more than 10% per week.
“The longer it lasts, the more profits it will take, that’s the reality,” said chief economist and head of investment strategy at AMP Sydney, Shane Oliver.
“As an economist and investor, I find it very difficult to predict its future value, no one can guess. However, there is a momentum aspect to it and currently the momentum is rising,” he explained again.
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Bitcoin’s Rollercoaster Ride: Let’s Dive In!
So, Bitcoin has done it again! Just when you thought it couldn’t climb any higher, it hits an all-time high of nearly 100,000 bucks! And now you might be thinking: “Wow, I could actually buy a decent car with that!” But let’s face it, with prices like these, you’d be better off investing in a sports car, a few pairs of trainers, and maybe—just maybe—an actual house! Have you seen the state of the market?
As of last Friday, Bitcoin soared to around $99,800 or in local currency, that’s basically a down payment on a small child’s college fund over in Indonesia—around Rp. 1,584,325,000. The excitement was palpable! Until, of course, it corrected itself faster than you can say “market volatility,” settling back to a cool $99,383. Look at that: a mere dip of about $417, which, let’s be real, is pocket change in the world of crypto! Or, at least it is until you go for a pint!
Now, can we talk about the elephant—or should I say the elephant-sized coin—in the room? Bitcoin’s price skyrocket coincided with none other than Donald Trump’s victory in the US Presidential Election two weeks ago. Who would’ve thought that a pro-crypto figure could send Bitcoin prices through the roof? I mean, it’s like giving the keys to the kingdom to an entire generation of teenagers who only know how to turn on a computer and buy virtual land in some metaverse!
According to Reuters, since Trump’s major win, Bitcoin’s value has more than doubled this year. And let’s give a round of applause for that 45% boost since the election day sweep on November 5! Will Trump put his face on the coin next? Bitcoin Trump, anyone? Or we can just refer to it as “Make Crypto Great Again.” Keep your hats on folks; it might just happen!
But hey, don’t put your crystal balls away just yet because we’re told that Bitcoin is set to experience a whopping 130% growth throughout 2024! And before you all crowd the local Bitcoin seller, the experts claim it could maintain a sky-high momentum of over 10% weekly! That’s like saying your gym membership will finally pay off after just one session—good luck with that!
Speaking of experts, Shane Oliver, a chief economist and head honcho of investment strategy at AMP Sydney, has thrown out a cheeky reality check. He stated, “The longer it lasts, the more profits it will take, that’s the reality.” And honestly, he’s spot on! But let’s be real; predicting Bitcoin’s future is harder than finding a needle in a haystack while blindfolded and standing on one leg.
And let’s face it—no one can be sure where this wild Bitcoin ride is headed. Will it soar to the moon or crash harder than my dating life? But indeed, as Shane notes, there’s momentum there, and the winds of change might just blow Bitcoin right into the ‘next big thing’ spotlight. Or into oblivion. Who knows?
So grab your popcorn, pull up your seat, and let’s watch this gripping drama unfold, shall we?
Jakarta –
In a remarkable turn of events in the cryptocurrency market, digital asset prices for Bitcoin surged to an astounding all-time high of approximately US$ 99,800, equating to Rp. 1,584,325,000 per coin, as reported during trading on Friday, November 22, 2024. This impressive performance marks the third consecutive week of rising prices for this prominent crypto asset, showcasing its growing appeal among investors.
However, shortly after reaching this historic peak, Bitcoin’s price experienced a slight correction and settled around US$ 99,383, equivalent to Rp. 1.57 billion (Rp. 1,577,705,125). This indicated a modest increase of 1.33% in the trading session from the previous day, reflecting a volatile yet intriguing landscape for cryptocurrency enthusiasts.
According to a report from Reuters on Saturday, November 23, 2024, the recent spike in Bitcoin’s prices closely followed Donald Trump’s decisive victory in the US Presidential Election nearly two weeks ago, a figure known for his favorable stance towards cryptocurrencies. Since his election, he has appointed a considerable number of pro-crypto legislators to the US Congress, thereby igniting renewed interest from investors in this digital asset market.
“Bitcoin’s value has more than doubled this year and is up around 45% since Trump’s landslide victory in the general election on November 5,” noted Reuters in its analysis, underscoring the correlation between political developments and financial trends within the cryptocurrency space.
Overall, analysts suggest that the leading crypto asset globally could witness a staggering price increase of up to 130% throughout 2024. Furthermore, it is anticipated to maintain momentum characterized by gains exceeding 10% per week as investors continue to engage with this asset class.
Shane Oliver, the chief economist and head of investment strategy at AMP Sydney, commented on the current market trajectory, stating, “The longer it lasts, the more profits it will take; that’s the reality.” He emphasized the challenges of forecasting future valuations, explaining, “As an economist and investor, I find it very difficult to predict its future value; no one can guess. However, there is a momentum aspect to it, and currently, the momentum is rising.”
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