Crypto Magic: Bitcoin Strengthens Post-Having, What's The Long-Term Potential?

JAKARTA - Earlier this week, Bitcoin (BTC) began to recover by surpassing US$65,000 (Rp1.05 billion), from previously trading below the level of US$60,000 (Rp974 million).

On Tuesday, April 23 at 08:00 WIB, Bitcoin (BTC) moved to US$67,045 (Rp1.08 billion), up 3.45 percent in the last 24 hours and rose 5.50 percent in the last seven days.

Meanwhile, Ethereum (ETH) also perched at 3,218 US dollars (Rp52.2 million) an increase of 2.23 percent in the last 24 hours and strengthened 4.45 percent in the last seven days period.

The 4th Bitcoin busking incident finally succeeded on Saturday, April 20. This time it happened at a block height of 840,000 and when the halving occurred Bitcoin was in the range of US$64,000 (Rp1.03 billion).

According to Crypto's Financial Expert, Panji Yudha, the halving event did not directly cause an instant surge in BTC prices.

BTC is likely to be able to move forwards or down temporarily after Halving, but this doesn't mean that the bullish market is over, Yudha explained.

However, Yudha believes there is potential bullish which will most likely resume a few months after Haling to push BTC beyond the US$All Time High of US$73,000 (Rp1.18 billion).

In the future, the Bitcoin halling event will continue until the last BTC is expected to be mined around 2140. After that, miners will only earn income from transaction fees.