Reku Crypto Analyst Believes in Crypto Market Upside Potential in Q4

JAKARTA - A Third Quarter Report from Reku summarizes that in Q3 2023 there has been price stagnation in the crypto market, especially Bitcoin and Ethereum.

However, Reku found that crypto product development is still continuing with the increasing adoption of innovations in the infrastructure, DeFi and web3 application sectors.

Crypto Analyst Reku Afid Sugiono believes there is potential for an increase in the crypto market in the fourth quarter, due to optimism regarding the approval of the Bitcoin spot ETF proposed by several global investment companies such as Blackrock and Citadelle.

In addition, the passage of a Bipartisan Bill (RUU) by the United States Senate to prevent crime through crypto.

"Another driving factor is the US inflation rate which is projected to fall, which can encourage the Fed to maintain interest rates," explained Afid in a statement received, quoted Monday, October 16.

Bitcoin candle data in September depicted a full-body bullish position, indicating an increase at the level of 30,700 - 32,800 US dollars or the equivalent of up to IDR 513.7 million.

"This condition pushes Bitcoin to be in the supply-zone area so there is a tendency for bullish momentum to continue in the fourth quarter," he added.

Therefore, Afid said that the fourth quarter has the potential to be a turning point in the sideways conditions in the previous quarter and provides an opportunity to optimize assets.

"Apart from short-term investors who can maximize trading and long-term investors through holding and staking, this condition can also be an opportunity for novice investors to start diversifying their investment instruments by saving regularly in crypto assets. "That way, people don't miss out on positive opportunities in the crypto market," he added.

According to him, Q4 will be an important period for investors to plan a mature investment strategy in preparation for the upcoming bullish cycle.

So, it is important to understand the narrative and adoption of new technologies, which have the opportunity to be a major catalyst in the upcoming bull cycle.