Bitcoin Price Drops, Ajaib: The Bullish Trend Will Still Maintain

JAKARTA - Bitcoin (BTC) and the majority of other altcoins have experienced a decline since Monday, December 11. On Tuesday, December 12, the price of Bitcoin fell by 3.48 percent in the last 24 hours to a price of 41,590 US dollars (IDR 650 million).

This price has clearly fallen from the level of 44,500 US dollars (IDR 696 million) on Friday, December 8, which was also BTC's highest peak since April 2022.

However, according to Financial Expert Ajaib Crypto Panji Yudha, Bitcoin's bullish trend will still be maintained. He said that this trend would remain strong if Bitcoin was able to stay above the level of 40,000 US dollars (IDR 625 million) in the next few days.

"In our opinion, this trend will remain strong if Bitcoin is able to stay above the $40,000 level in the next few days, thus providing an opportunity to implement a buy the dip strategy," said Panji in his statement.

Despite this, Bitcoin has surged more than 150 percent since January 2023, ending last year's bear market period and fueling optimism the crypto bull market will continue into 2024-2025.

Meanwhile, last week Ethereum (ETH) also recorded its highest price this year at 2,400 US dollars (IDR 37.5 million) before experiencing a decline of 4.10 percent on Tuesday, December 12.

Meanwhile, global crypto market capitalization fell 4.00 percent to 1.530 trillion US dollars, down from this year's highest level of 1.620 trillion reached last week.