Bitcoin and Ethereum are Monitored to be Rising Early This Year, Oscar: Don't Feel FOMO!

Bitcoin and Ethereum were observed riding (photo: Unsplash)

JAKARTA - During the January and early February 2023 periods, two cryptocurrencies with the highest market caps, namely Bitcoin (BTC) and Ethereum (ETH), were observed to increase.

Indodax market data said BTC was observed to have increased by around 33 percent. Meanwhile, ETH was observed to have increased by around 30 percent, when viewed from January 1 to February 6 2023.

The increase in the price of BTC and ETH is considered to have influenced other cryptocurrencies which also rose, such as XRP which rose by around 12 percent, and MATIC which rose by around 52 percent in the same period.

Crypto Accumulation

Indodax CEO, Oscar Darmawan sees that this rising crypto phenomenon is also caused by investors who are currently accumulating crypto to welcome Bitcoin Halving Day which will take place in Q2 2024.

"This is a good increase at the beginning of the year, when people have started to look again at crypto," explained Oscar in his statement.

Seeing this, Oscar said that investors need to continue to be guided by the plans that have been made. By adhering to the plan, you can avoid existing FOMO.

"Don't let crypto, which is currently rising in price, make us FOMO, which will actually cause losses on our side. If investors have made a profit, investors need to keep doing market analysis and evaluation," he explained.

Oscar also advised that investors need to understand the market situation and crypto assets that have good prospects and fundamentals. In both bearish and bullish situations, Oscar warned that these situations can change quickly.

"So there is a need for in-depth literacy about trading in crypto and not just joining in or making decisions based on emotion without research," concluded Oscar.