Bitcoin Reaches 117,000 US Dollars, Long Prospects Still Bright

Illustration: Photo: Doc. ANTARA

JAKARTA The price of Bitcoin (BTC) has again set a new record after breaking the level of US$117,000.

Market participants consider this achievement to be a signal that the long-term prospect of the largest crypto asset remains positive.

Vice President of Indodax Antony Kusuma revealed that BTC is trading in the range of 117,182 US dollars.

This spike occurred shortly after the United States central bank, the Federal Reserve, lowered its benchmark interest rate by 25 basis points.

According to Antony, the closest challenge for Bitcoin is to turn the $117.000 level into a solid support area.

"If we can survive above it, the chances of breaking 120,000 US dollars will be even greater," he explained as quoted by ANTARA, Friday, September 19.

He added that the psychological figure of US$120,000 would be an important point.

"Success to penetrate this level not only increases investor confidence, but also encourages the entry of new liquidity, especially from institutions," said Antony.

Responding to global conditions, Antony emphasized that BTC's long-term direction remains positive.

The policy of lowering interest rates indicates liquidity is flowing again. History shows that situations like this often trigger the growth of digital assets," he said.

The flow of funds to the Bitcoin ETF also shows a positive trend throughout the week, although it had slowed ahead of the FOMC's decision announcement.

This data, said Antony, indicates that big investors still believe in long-term fundamentals.

Di sisi domestik, minat terhadap aset kripto pun tak surut. Jumlah investor Indodax kini menembus lebih dari 9 juta orang, dengan tambahan hampir 2 juta anggota baru sejak awal tahun.

Aktivitas perdagangan juga tetap stabil meskipun sebagian investor ritel memilih menunggu kepastian tren.

“Kepercayaan masyarakat terhadap aset digital di Indonesia tetap kuat,” tegas Antony.

Ia memprediksi kebijakan moneter global akan terus menjadi faktor kunci. Pasar kini menantikan langkah lanjutan The Fed.

“Jika tren pemangkasan suku bunga berlanjut, ruang pertumbuhan Bitcoin kian terbuka,” pungkasnya.

On the domestic side, interest in crypto assets has not subsided. The number of Indodax investors has now penetrated more than 9 million people, with an additional 2 million new members since the start of the year.

Trade activity also remains stable even though some retail investors choose to wait for the certainty of the trend.

"People's trust in digital assets in Indonesia remains strong," said Antony.

He predicts global monetary policy will continue to be a key factor. The market is now looking forward to the Fed's continued steps.

"If the trend of cutting interest rates continues, Bitcoin's growth space will be open," he concluded.