Bitcoin Price Drops Again, Crypto Analyst: Bitcoin Is Still An Attractive Investment Choice

Bitcoin is corrected again (photo: Pixabay)

JAKARTA - Bitcoin corrected 5.64 percent to the level of US$65,503 or equivalent to Rp1.03. After previously Bitcoin had reached an all-time high.

However, Crypto Analyst Reku, Fahmi Almuttaqin said, the corrections that occurred did not necessarily make Bitcoin less attractive or could be concluded as a change in trend direction.

This is because, Fahmi added, Bitcoin is still attractive as an investment instrument, especially with the dynamics of the world economy which is still struggling with inflation and growth challenges.

"The condition of the international and national economy is still overshadowed by the success of efforts to reduce inflation and maintain economic growth which will also affect the investment climate," said Fahmi further.

This situation then underscores the importance of diversifying investment into a class of global assets that do not have a direct relationship with traditional economic conditions.

Bitcoin is an instrument that can meet these criteria. Therefore, currently many institutional investors in America are starting to adopt Bitcoin and advise their clients to allocate at least 1% of their investment portfolios in Bitcoin, "he explained.

According to him, Bitcoin as a unique asset has the potential as an instrument that can protect investors from the risk of inflation and the challenges of economic growth.

In fact, a number of global companies have also announced ownership of their Bitcoins such as Tesla, Microsoft, Paypal, and several others. This fact illustrates that Bitcoin adoption continues to increase.

For investors who have not invested in Bitcoin, Fahmi emphasized that it is still not too late to invest, especially when Bitcoin is correcting.

"When corrected, investors also have the opportunity to buy Bitcoin at lower prices," said Fahmi further.

Moreover, Haling Bitcoin as a four-year momentum also has the potential to increase the value of Bitcoin scarcity because the Bitcoin inflation rate is halved.