Bitcoin Greens, Crypto Analyst Reveals Possible Bitcoin Breaks 100.00 US Dollars

JAKARTA - The price of Bitcoin has jumped more than 12 percent in the past week and is now trading above $94,000 or around Rp1.58 billion.

The increase was triggered by US President Donald Trump's statement indicating a possible easing of tariffs on imports from China.

Tokocrypto analyst, Fyqieh Fachrur saw a fairly positive market response, with expectations that Bitcoin will soon break the psychological level of 100,000 US dollars (Rp1.68 billion).

Trump's statement is a strong catalyst for the Bitcoin price spike. However, investors still have to be wary of the potential for high volatility that still overshadows the market due to geopolitical dynamics," Fyqieh said in a statement on Thursday, April 24.

The peak of the Bitcoin rally occurred on April 23, when Bitcoin set a new record high of 94,220 US dollars (Rp1.59 billion).

"Some analysts estimate prices could continue to rise to US$106,000 (Rp1.79 billion), some even target US$180,000 (Rp3.03 billion) in the long term," he explained.

The hope that the US-China trade tension will subside is also fueling market optimism. The reduction in tariffs is considered to reduce inflation and open up opportunities for the Fed to lower interest rates.

In fact, President Trump has publicly asked Fed Chairman Jerome Powell to consider easing monetary policy.

"Although some analysts remain cautious seeing prices still in the consolidation phase, the strong momentum of the combination of geopolitical factors, institutional currents, and pro-crypto policies is believed to continue to encourage growth in this sector," he concluded.