Bitcoin Rebounds Above IDR 1.1 Billion, Preparing to Close March Positively

Illustration of Bitcoin (photo: Pixabay)

JAKARTA - After experiencing a decline to as low as 60,800 US dollars (Rp. 960 million) last week, Bitcoin (BTC) recovered to levels above 70,000 US dollars (Rp. 1.1 billion) at the beginning of the last week of March.

The current increase in Bitcoin has reached 14.24 percent from the opening price of BTC at 62,168 US dollars (IDR 982 million) on March 1, 2024. Meanwhile, if you look at it since the beginning of the year, BTC has risen by 64.96 percent from the opening price at 42,280 US dollars (IDR 668 million) on January 1, 2024.

Thus, Financial Expert Ajaib Crypto, Panji Yudha, said that there is a possibility that Bitcoin will continue its positive trend until the end of March.

"If this happens, this will be the seventh consecutive closing, starting in September 2023, indicating the consistency and resilience of the Bitcoin market in facing various market dynamics," said Panii in his statement on Tuesday, March 26.

Panji continued, that Bitcoin's increase of 4.99 percent in the last 24 hours and reaching a level above 70,000 US dollars (IDR 1.1 billion) tested Bitcoin's potential to reach the all-time high area.

"The potential for BTC to test the all-time high area of ​​73,000 US dollars (Rp. 1.15 billion) could occur if it is able to stay above the support of 69,000 US dollars (Rp. 1.09 billion)," he said.

Panji also added, "However, if there is a decline below this support level, BTC has the potential to weaken to around 66,000 US dollars or IDR 1.04 billion."