Can Bitcoin Reach 100,000 US Dollars Towards The End Of November?

JAKARTA - Bitcoin (BTC) was again in the spotlight, as it was approaching the level of US$100,000 (Rp1.59 billion) last week, before finally experiencing a decline earlier this week.

Crypto magic, Panji Yudha said, that Bitcoin (BTC) experienced a decline from its highest level (all-time high) at US$99,588 (Rp1.58 billion) which was recorded on Friday, November 22, then fell close to US$93,000 (Rp1.48 billion) on Monday, November 25.

Meanwhile, on Tuesday, November 26 at around 14.00 WIB, BTC was trading in the range of 94,544 US dollars (Rp1.50 billion).

Thus, Panji saw indications of a rebound from the level of 93,000 US dollars (Rp1.48 billion) and the potential to re-test the figure of 96,000 US dollars (Rp1.53 billion) to ATH at 99,588 US dollars (Rp1.58 billion).

"However, if BTC fails to last above 93,000 US dollars (Rp1.48 billion), there is a potential correction to MA-20 and support at 88,750 US dollars (Rp1.41 billion)," said Panji in a written statement received by VOI.

In addition to institutional developments, Panji Yudha also noted that some economic data from the United States this week will play an important role in crypto market movements, such as:

According to Panji, this bullish momentum opens up great opportunities for Bitcoin to set a new price record. However, he warned that volatility remains a major factor in the crypto market.

"Investors need to remain alert to price fluctuations that can occur as Bitcoin approaches this significant psychological level," he concluded.