Indodax CEO Oscar Darmawan: Crypto Price Will Strengthen Up To 2 Times At This Year's Haling Bitcoin Moment

Indodax CEO, Oscar Darmawan. (Didi Kurniawan / VOI)

JAKARTA - Indodax CEO Oscar Darmawan said the crypto price would double this year's Haling Bitcoin momentum.

For information, Bitcoin Halfing is an event that occurs once every four years when the payoffs obtained by Bitcoin miners or block reward will be cut in half.

Oscar explained, Halving Bitcoin is a great moment where there is a change in Bitcoin supply, but demand for Bitcoin is growing which makes the price of Bitcoin soar.

"I believe Halving brings a price increase of usually two to three times, even five times in 2013. Haling this year, can reach 2 times or more," Oscar told the media on the sidelines of the Talk Show on the Crypto Ecosystem by Indodax in Jakarta, Tuesday 27 February.

Based on data from Coinmarketcap, the price of Bitcoin (BTC) today rose again. When this news was made, the price of Bitcoin was at the level of 57,138 US dollars or equivalent to Rp896 million per 1 Bitcoin.

Meanwhile, Head of the Commodity Futures Trading Development and Development Bureau (CoFTRA) Tirta Karma Senjaya assesses that crypto prices are currently still influenced by global sentiment.

According to him, several factors that affect crypto prices today are US interest rates and US regulations on the crypto industry.

"For example, the US raises interest rates, Bitcoin will move, if Bitcoin moves, other cryptocurrencies will also move. The SEC (Securities and Exchange Commission) sets a Bitcoin ETF and targets the exchangeer to also affect crypto development, including the price," said Tirta.

Tirta said that the readiness of the Indonesian crypto asset trading ecosystem is one of the reasons for the increasing number of investors in Indonesia.

Based on data from CoFTRA as of December 2023, the number of crypto investors in Indonesia continues to reach 18.5 million.

"The (crypto) ecosystem in Indonesia has started to be good. In addition, the Indonesian economy also continues to grow. As is known, currently the crypto asset ecosystem in Indonesia already has exchanges, clearing institutions, and custodians," said Tirta.

In addition, the increasing number of crypto investors is also influenced by demographic benefits due to the dominance of the young population.

"Indonesia also has a demographic advantage, namely that many young people and Indonesia also have population benefits. Many young people have a high curiosity," he said.

This is also supported by regulations that provide security for crypto industry players, including investors.