Ahead Of Eid Al-Fitr 1445 H, Upbit Reveals Maximum Strategy For Crypto Investment

Bitcoin illustration (Photo: Antara)

JAKARTA Along with the increasing interest in crypto in Indonesia, the month of Ramadan also reflects an increase in crypto investment activity during the month of Ramadan.

In 2022, Ramadan began on April 3 and Eid al-Fitr falls on May 1, 2022. According to data from Coinecko on April 3, the price of Bitcoin (BTC) at that time was at the level of 46,312 US dollars with trading volume reaching 24.8 billion US dollars. However, the price of BTC then decreased to 38,631 US dollars with a trading volume of 30.6 billion US dollars on May 3.

Different from the previous period, in Ramadan 2023 there was a different movement in the Bitcoin (BTC) market, where the price of BTC experienced an increase and was traded at the level of 29,276 US dollars with a trading volume of around 16 billion US dollars. Although BTC experienced a price increase of 1.68 percent, there was a decrease in trading volume by 49.06 percent.

"Ramadan this year, we see a change in trend compared to the previous Ramadan period. This can be seen from the bullish trend of Bitcoin which had scored All-Time-High (ATH), and an optimistic market to welcome Halfing Bitcoin, as well as a number of sectors that were also trusted to go positive during this month," said Upbit Indonesia Chief Operation Officer Resna Raniadi in her official statement, Thursday, April 4.

In welcoming the approaching Eid Al-Fitr, Upbit also shares tips and strategies for investors to maximize crypto investment:

Plan Wisely: Before starting crypto investment during Eid Al-Fitr, it is important to plan investment strategies wisely, such as investment goals, and investment risks that will occur

Staying Alert to Market Volatility The holiday period such as Eid al-Fitr can cause unexpected market volatility, investors must remain alert to rapid price changes and also diversify portfolios to minimize risks.

Staying focused on the Long-Term Plan Although the market may fluctuate during Eid al-Fitr, it is important to stay focused on long-term investment goals. Avoid being affected by short-term price changes and maintain a focus on carefully planned investment strategies.

Resna said that in entering Eid al-Fitr, with the THR momentum, investors hope to be more careful and wiser in financial management and remain focused on long-term investment goals considering that in recent times there has been an All Time High moment in several digital assets as well as bitcoin halfing in April.

"It's better, before deciding to invest, it is hoped that it will continue to monitor market movements and not make impulsive decisions with the implementation of proper investment diversification," he explained.

According to Resna, her party is always committed to providing the best service to customers and helping them understand the dynamics of the crypto market better. During Ramadan, she noticed significant changes in market behavior and continued to monitor the factors that affected it.

"We hope to continue to provide useful insights to investors so that they can make the right investment decisions," he said.