Tokocrypto Optimistic Of Bullish Crypto Market In 2024, This Is The Motivater Factor!

JAKARTA - Tokocrypto, as a pioneer of crypto exchanges in Indonesia, expressed optimism for the growth of the crypto industry in 2024, globally and in Indonesia.

Tokocrypto CEO, Yudhono Rawis revealed that there are several factors that support bullish views on the trend of the crypto market in 2024.

First, is the potential for increasing crypto adoption to be carried out by traditional financial institutions, which are basically influenced by efforts to apply for crypto ETFs by large asset management in the United States.

Second, macroeconomic conditions, where the potential decline in the US central bank interest rate or the Fed next year is also predicted to make the crypto market achieve positive sentiment.

Another factor is Bitcoin Haling or a half reduction in the return of BTC miners or miners is expected to occur in 2024. Where, this event indirectly also has an impact on the number of Bitcoins in circulation.

"The Fed's decline in interest rates will make investors more daring to switch to crypto, because it is considered a more profitable asset. Meanwhile, Bitcoin breaking will reduce the supply of BTC, thereby driving the increase in Bitcoin prices," Yudho explained in a statement received, quoted Thursday, December 28.

Yudho added that the next factor includes regulations. According to him, regulations in regulating and supervising crypto asset trading will determine market trends in the future.

In Indonesia alone, the crypto industry is entering a transition period from the supervision and regulation of crypto assets from the Commodity Futures Trading Supervisory Agency (CoFTRA) to the Financial Services Authority (OJK).

Then, business actors in the country's crypto industry are also currently waiting for the draft OJK Regulation (POJK) as a technical regulation of the implementation of krpto supervision and derivatives of Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (UU PPSK).

According to him, crypto regulation by OJK can open up opportunities for the wider development of the digital asset industry. "This step has increased public trust and accelerated crypto adoption in Indonesia," said Yudho.