BASED on data from the Commodity Futures Trading Supervisory Agency (Bappebti), the total value of crypto asset transactions from January to July 2024 reached IDR344.09 trillion or increased by 353.94% compared to the same period last year. In line with the increase in transaction value, the number of crypto investors also increased to 20.59 million in July 2024.
“We see a very positive trend in crypto trading in Indonesia with transaction growth and the increasing number of investors proving that crypto is increasingly accepted in society,” said Indodax CEO Oscar Darmawan in a statement in Jakarta, Saturday (8/31). Seeing this trend, Oscar also believes that the growth of the crypto market in Indonesia can open up more opportunities for innovation in the digital financial sector in the future.
The increasing adoption of crypto opens up huge opportunities for the development of new financial products that are more adaptive and relevant to the needs of the digital society. Innovations such as blockchain-based payments, smart contracts, have the potential to change the way we transact, invest, and manage assets as a whole.
On the other hand, despite the increase in crypto transactions and investors for months, the Bitcoin market price is now experiencing a correction, as seen in the decline in the Bitcoin price as of Friday (30/8) which was seen to have fallen to around US$59,000. Oscar considered this to be part of the market dynamics that must be faced.
“These price fluctuations demonstrate the importance of a cautious and informed approach to investing. The current bitcoin price correction should not be seen as a negative indication, but as part of a larger market cycle,” Oscar said.
In addition, Oscar said it is also important for investors not to be influenced by short-term price movements and to remain focused on long-term investment strategies, especially in managing risks better and taking advantage of existing opportunities.
According to Oscar, investing in crypto is not just about buying and selling assets, but also about understanding the underlying technology. Investors should understand that the crypto market is very dynamic and often experiences rapid changes. Price corrections can be seen as an opportunity for investors to adjust their trading plans and portfolios.
Dollar-Cost Averaging (DCA), he continued, is a very relevant investment strategy in the volatile crypto market. By implementing DCA, investors can reduce the risks associated with short-term price fluctuations and avoid investment decisions influenced by emotions. This strategy allows investors to buy crypto assets periodically with a fixed amount. (Ant/Z-2)
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