Bitcoin Reaches US$88 Thousand, Trump's Victory Is The Beginning Of A New Increase?

Illustration of Bitcoin (photo: Pixabay)

JAKARTA - Bitcoin has continued to print new all-time highs in recent days. On Tuesday, November 12, Bitcoin hit $88,000, up 28.30% in the past week.

Apart from Bitcoin, several Altcoins also jumped, such as Ethereum (ETH) reaching 3,349 US dollars (Rp52.7 million), Solana (SOL) touching 220 US dollars (Rp3.4 million), and Dogecoin (DOGE) at 0.324 US dollars (Rp5 thousand).

Crypto's Financial Expert, Panji Yudha said that this increase was driven by US President-elect Donald Trump, who promised that his government would stop selling billions of dollars in Bitcoin collected by the US from criminal cases, and would keep them like gold.

Thus, Panji sees that the policy will reduce investor concerns about the future sale of BTC by the US government.

The Bitcoin rally has the potential to reach 91,500 US dollars (Rp1.44 billion). However, investors need to remain alert to a decline driven by profit-taking and risk-off action this week due to the release of US Inflation data and the speech of the Governor of the US Central Bank, Jerome Powell, "explained Panji.

Panji said that the market is currently in a high phase of greed. According to him, this phase often hints that crypto prices have risen significantly in a short time and may be prone to corrections.

Panji said the expectations of increasing pro-crypto regulations, coupled with the easing of monetary policy, could bring additional growth potential for BTC and other crypto assets in the coming weeks.

However, crypto investors still need to consider the possible volatility and opportunities to maintain their position as markets pay close attention to the future direction of the economy and regulations.