Correction Market, Opportunities To Buy Bitcoin At Low Prices

Illustration. (Photo: Unsplash)

JAKARTA - In recent weeks, the crypto market has experienced a significant change in the price of Bitcoin. This week, the price of Bitcoin experienced a fairly wide price range, with the lowest price reaching 56.552 US dollars on May 1, 2024, and the highest price reached 64.734 on May 6, 2024. Meanwhile, on May 13, 2024, Bitcoin was trading around a price of 62.761 US dollars.

In such fluctuating circumstances, it is very important to have a deep understanding of the dynamics of the crypto market and awareness of factors affecting price fluctuations. With the right information, investors can make more informed investment decisions and prepare strategies that match the dynamic market situation.

INDODAX CEO, Oscar Darmawan, gave his views on current market conditions.

"Bitcoin may be at its low point for a while, and is likely to increase gradually in the next few months," Oscar said, Monday, May 13.

In addition, he stressed that INDODAX views market corrections as a natural part of the journey to the maturity of the crypto market. Although price corrections can cause temporary uncertainty, it can also be an opportunity for investors who dare to enter the market at a time like this.

Oscars also highlighted several factors affecting market corrections, such as the US tax season, halving Bitcoin, interest rates, and fluctuations of ETF inflows.

"Current corrections are an unavoidable part of the journey to the development of the crypto ecosystem, where courage and caution must go hand in hand," he added.

The post-halving Bitcoin moment is believed to significantly increase the price of Bitcoin, although there is a possibility of a temporary price drop known as price adjustment. However, what is more important is to have a mature trading plan. Thus, every trader and investor already knows what steps to take when the price of Bitcoin goes up or down.

In this context, Oscar underlined the importance of taking advantage of moments like this to invest with the Dollar Cost Averaging (DCA) technique through the Regular Investment' feature on INDODAX.

"When viewed from its history, after the Bitcoin correction, it will increase, and this is a good opportunity for investors and traders to take advantage of the 'buy the dip' moment at low prices," he added.