JAKARTA - The price of Bitcoin rose by 6.85 percent in the last 24 hours on Tuesday, May 21, perched at US$71,248 (Rp1.14 billion), after previously dropping to US$56,000 (Rp897 million).
The Financial Expert of Crypto, Panji Yudha, explained that, if BTC can survive above US$69,000 (Rp1.1 billion) support then the next potential is to increase to test the all time high area at 73,768 US dollars (Rp1.18 billion).
"However, if there is a decline below the support of US$69,000 (Rp1.1 billion), the potential will bring BTC down to US$65,500 (Rp1,049 billion)," Panji said in his statement.
Furthermore, Panji said, where the increase in Bitcoin in the last few days could be a boost for Bitcoin to break the Sell in May trend with the potential to close May positively.
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Meanwhile, Altcoin with a large market capitalization has also increased in the last 24 hours: Ethereum (ETH) rose 17.94 percent, Avalanche (AVAX) rose 12.59 percent, and Solana (SOL) shot 9.69 percent.
Panji also explained that the increase in Bitcoin (BTC) since last week was motivated by the trading of spot Bitcoin ETFs that experienced significant inflows during last week's trading, marking a positive flow of the second week in a row.
In addition, the crypto asset market reacted positively to signs of a slowdown in inflation in the United States. "The emerging inflation rate in accordance with market expectations has sparked a positive response in the crypto market," Panji explained.
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