INDODAX CEO: Not Only Bitcoin, Altcoin Is Also Beneficial

JAKARTA - Along with the increase in the price of Bitcoin which has now touched Rp1.1 billion, several altcoin crypto assets have also increased. INDODAX CEO Oscar Darmawan said several altcoin coins such as Ethereum, Solana, Render, and Ondo have begun to show improvements.

"As of March 14, 2024, the price of Ethereum is now also getting closer to the price of all time high in November 2021, which is IDR 62 million, while the price of ATH Ethereum is IDR 72 million. Solana has also jumped 19 percent in the past week to IDR 2.5 million. Not only that, the Render coin has also increased by almost 19% in the past week to IDR 173 thousand. The ONDO coin has also shot up 21% in the past week to IDR 9,300," said Oscar Darmawan, in his statement, Thursday, March 14.

Responding to this trend, Oscar Darmawan explained that the increase in the price of the altcoin coin was driven by an increase in the price of Bitcoin which was getting closer to the half-day Bitcoin.

"The increase in the price of Bitcoin is often a trigger for the increase in the value of altcoin coins. Due to the high price of Bitcoin, investors who want to invest but the costs are limited, tend to switch to buy altcoins whose prices are more affordable," said Oscar Darmawan.

Oscar Darmawan also said that the strengthening of these coins caused altcoin seasonons to occur, as happened in the previous halling period.

"As a result, there has been an increase in demand for altcoins and their prices have also increased. So, not only Bitcoins have a high investment profit potential. Other coins besides Bitcoins such as Ethereum, Solana, Render, and Ondo also include potential coins that offer attractive investment opportunities," said Oscar Darmawan.

Oscar Darmawan also said this phenomenon adds to the dynamics of the crypto market, providing investment diversification options for market participants. The increase in Bitcoin prices and current altcoin coins suggest that crypto assets are one of the promising and high returns.

"Therefore, it is a shame if it is missed, especially for the younger generation because it can help them to achieve financial freedom. Especially in INDODAX, with a capital of only Rp. 10,000, they can invest," said Oscar Darmawan.

Oscar Darmawan also said it was not too late if he wanted to invest in Bitcoin or other coins.

"The sooner you start investing, the greater profit opportunities you can achieve. But keep in mind to do research/DYOR (Do Your Own Research) first before starting to invest, because this is not a financial advisor," concluded Oscar Darmawan.