Soaring Again Bitcoin Price Translucent Rp162 Million

JAKARTA - The price of Bitcoin continues to increase and reaches US $ 11,212 or equivalent to Rp.162 million per coin overnight. This is the highest price for Bitcoin since the beginning of July.

Quoting Coindesk, at 09.55 WIB, the Bitcoin (BTC) exchange rate had corrected positive 0.30 percent in the last 24 hours. The price that Bitcoin trades is between 9,849 and 10,964 US dollars per coin.

"This is a positive trend for Bitcoin to continue to lift from 9.800 US dollars, and we believe this figure will continue to climb even higher," said Jack Tan, from the quantitative trading firm Kronos Research based in Taiwan, Tuesday, July 28.

The volume of Bitcoin trading on Coinbase alone, amounts to US $ 292 million. This is the highest since June 11, when volume hit $ 255 million.

Apart from the positive jump in Bitcoin price, the exchange rate of other cryptocurrencies also increased dramatically on Monday 27 July trading. The price of Ethereum (ETH) has risen by around US $ 323 or corrected 5.6 percent in the last 24 hours.

In January, the average fee on the Ethereum network was 0.000542 ETH. So far in July, the average cost on Ethereum stands at 0.003532 ETH, a 550 percent increase in the cost of making transactions on the second-largest blockchain by market cap, according to data aggregator Blockchair