Bitcoin Drops Below 40,000 US Dollars, Crypto Magic Gives This Advice!

Bitcoin price had fallen below 40,000 US dollars (photo: Pixabay)

JAKARTA - The price of Bitcoin fell below 40,000 US dollars (Rp626 million). On Tuesday, January 23 at 08.00 WIB, Bitcoin was perched at a price of 39,815 US dollars (Rp623.7 million).

This number weakened by 3.64 percent in the last 24 hours and fell by 6.65 percent lower in the week period.

Seeing this situation, the Magic Financial Expert Kripto Panji Yudha appealed to investors to implement a dollar-assisting (DCA) strategy with the aim of getting a low average price and to reduce stress from the impact of Crypto Asset price fluctuations.

Meanwhile, at the same time, the total market capitalization of Crypto Assets was at the level of US$1.22 trillion, down 4.34 percent in the last 24 hours.

The decline was also felt by Ethereum (ETH), which was trading around 4.53 percent lower over the past 24 hours to around 2,325 US dollars (Rp36.4 million).

However, some altcoins are still experiencing an increase in the last seven days, such as the Pedle (PENDLE) rising 18.80 percent perched at 2.06 US dollars (Rp 32 thousand), Chilez (CHZ) up 4.65 percent, and the Faction Share (FXS) up 4.19 percent moving at 9.27 US dollars (Rp 145 thousand).

This week, two important economic data will be released. The initial figure of the US fourth quarter GDP growth will be released on Thursday, January 25, followed by the private consumption expenditure price index (PCE) released by the US Commerce Department for December, one day later.

The market participants are also looking forward to when the Federal Reserve (The Fed) will start cutting interest rates, which will be the main determinant of the economy and market direction this year, explained Panji further.

Because according to him, Where the decline in interest rates will certainly have the potential to attract investors to risky assets, it has the potential to have a positive impact as well on the Crypto Assets market.