Reku Analysis: Bitcoin Prints New Record, Investors More Optimistic

Illustration of Bitcoin (photo: Unsplash)

JAKARTA - Bitcoin has recorded a price increase of around 38.82 percent from January to October 9, 2024, making it the best performing asset so far this year.

The increase in the price of Bitcoin was followed by gold which increased 26.32 percent, as well as US stocks such as Nasdaq and S&P 500 which grew by more than 20 percent, respectively.

According to crypto analyst Reku Fahmi Almuttaqin, Bitcoin's positive performance and US stocks are impressive amid high global interest rates.

"In fact, the performance of the two assets is the highest among investment instruments in other secondary markets at that time, especially when compared to other high-risk investment instruments," Fahmi said in a statement.

Fahmi also mentioned that the strengthening of these assets was also supported by a decrease in the value of the US dollar, which was triggered by expectations of a decline in the Fed's interest rate in September.

In addition, he also explained that the potential for further decline next month could strengthen this positive trend, especially for stocks and cryptocurrencies.

With this positive performance, Reku urges investors to continue to make careful and not rushed decisions and monitor developments related to important events such as the FOMC meeting on November 7-8 and the US presidential election on November 6.

"Investors can do regular savings and monitor market conditions regularly. Currently, investors are also easier to invest in a number of US shares and crypto blue chip assets at once with a swipe," concluded Fahmi.