Bitcoin Price Drops Post-EtF Bitcoin Spot Approval, Reku: Investor Still Wait And See

Screenshot of the Bitcoin Spot ETF Webinar by Reku (photo: Reku)

JAKARTA - Bitcoin prices appear to have weakened 8.47 percent to a price of $42,654 or Rp66 million, one week after the Securities and Exchange Commission (SEC) approved the Bitcoin Spot ETF.

Seeing this condition, Robby as Chief Compliance Officer (CCO) of Reku and General Chair of Aspakrindo-ABI revealed that currently investors tend to wait and see the economic development in the United States.

In terms of macroeconomics, inflation in the United States has increased to the level of 3.4 percent, or 0.3 percent higher than inflation in December 2023. "Developments that are beyond expectations also increase the vigilance of investors in high-risk instruments such as crypto assets," Robby said at the Bitcoin ETF webinar on Wednesday, January 17 which was conducted online.

However, Robby believes that the potential for Bitcoin to be green is still wide open. So he appealed to investors to continue to monitor market conditions while continuing to invest.

Robby also said that the adoption of Bitcoin Spot ETF is a game-changer in encouraging investor enthusiasm. Because, Spot's Bitcoin ETF will unlock the potential entry of traditional investors into the crypto market via Bitcoin.

"This can encourage a larger flow of funds, not only from retail investors, but also institutional investors" added Robby.

Regarding regulations in Indonesia, Robby hopes that in 2024 there will be a significant increase in the number of users. He hopes that this momentum can bring the crypto industry in Indonesia to a more positive direction.

"ETF Bitcoin Spot in global transactions can increase public confidence in Bitcoin. This will further open up knowledge and information as well as regulatory references including in Indonesia," he concluded.