Heaptalk, Jakarta — The price of crypto asset Bitcoin has touched US$50,000, approximately Rp778 million, for the first time since three years ago.
Refers to the CoinMarketCap, several factors follow this enhancement, such as a growth of other crypto asset prices, spanning an Ethereum asset, which is appreciated at the level of 14.38%, or around Rp41.4 million in the last week, and Solana rose by 18.58%, attaining Rp2.04 million in the previous week.
Responding to this price elevation, Reku’s Chief Compliance Officer (CCO), Robby, delivered that a positive response to the overall investment climate also accompanies Bitcoin price growth.
“The established momentum and optimism target high-risk investment instruments. Apart from the crypto market, the US stock index, such as the S&P 500, also bumped to 1.45% in the last five years and about 5.37% in the last month. I observed that the Dow Jones Industrial Average Index also reaches a new intraday score, boosted by technology and financial stocks,” explained Robby.
For this reason, the COO suggested the crypto investor use a green momentum of Bitcoin price in optimizing opportunities that existed, including:
- Considering a high-risk investment instrument
- Conducting a diversification strategy to distribute investment risk better
- Adjusting the asset selection in their portfolio composition to their investment risk profile
Will the crypto market be bullish?
Aligned with Robby, Reku’s Crypto Researcher, Fahmi Almuttaqin, delivered that this year implies investor confidence in taking risks, observing from several aspects, covering an improvement of hash power or the computing power that runs the Bitcoin blockchain, increasing the investment funds inflows despite the current high-interest rate situation, and various narratives enlargement supported by a new project crypto investment in diverse sectors.
Furthermore, a Look Into Bitcoin data demonstrated a Bitcoin hash rate consistently closing a new all-time high, specifically in the last year. This matter draws the miner’s bravery and optimism to invest in the hardware to perform mining, regardless of the Bitcoin Halving, which will cut the rewards for mining Bitcoin in April 2024.
According to the investment inflow funds of Coinshares (02/12), the data disclosed a stable inflow advancement, with a net inflow recorded up to US$1.1 billion last week. This enhancement has influenced a crypto instrument Asset under Management (AuM) to achieve the most significant level worth US$59 billion since early 2022.
“The development of various narratives in crypto, such as Gamefi, Layer 2, and ERC 404, gained much attention. The development of this narrative, which is also driven by new projects with great support from the community and retail investors, also illustrates the high level of optimism and courage of market players. We encourage investors to be wise in heeding multiple aspects towards new technology and continue observing a sustainability and product market fit existing,” affirmed Fahmi.
