Bitcoin Exceeds July ATH Record, Shifts Google And Amazon Market Capitalization
JAKARTA - Bitcoin prices again set an all-time high (ATH) at the level of 124,474 US dollars or approximately IDR 2 billion on Thursday, August 14.
This achievement surpassed the previous record in July of 122,838 US dollars (Rp1.97 billion), as well as making Bitcoin the sixth largest asset in the world, outperforming Alphabet (Google) and Amazon market cap.
As Bitcoin rallies, other crypto assets such as Ethereum (ETH) have strengthened by 28% in the past seven days, nearing its record high at 4,891 US dollars (Rp78.7 million). XRP also experienced a significant increase, supported by clarity of regulations following the resolution of the SEC versus Ripple case.
Tokocrypto analyst, Fyqieh Fachrur, believes that this momentum increase is not only driven by macroeconomic factors, but also by healthy market dynamics.
"In addition, the climate of regulations that are more crypto-friendly under the current US administration is further strengthening investor positive sentiment," explained Fyqieh.
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Fyqieh said there were several key variables driving the Bitcoin price spike, namely strong inflows to the ETF, persistent institutional adoption, supporting macroeconomic background, and potential lower interest rates to become the main catalyst.
He sees market sentiment as still bullish, as investors now view Bitcoin as not only a growth asset, but also an effective inflation hedge.
With market capitalization increasing and investor interest rising, market participants are now waiting for the next direction of the Bitcoin movement.