JAKARTA - Bitcoin again recorded a new record high price (All-Time High/ATH) at the level of 94,002.87 US dollars (around Rp1.48 billion) on November 20 at around noon in the morning WIB. This achievement not only strengthens Bitcoin's position as a leading crypto asset, but has also triggered a significant inflow of funds to the Exchange-Trad Fund (ETF) Bitcoin product in the last 24 hours.
The BTC bullish trend is in the spotlight of investors who estimate the potential price increase for BTC. Is Bitcoin able to penetrate the psychological figure of US$100,000 (around Rp1.58 billion) in the near future or is it actually entering the consolidation phase?
In the last seven days, the price of Bitcoin has risen 6.79% and recorded a 34.63% jump over the past 30 days. In addition, MicroStrategy, one of the largest public companies to own Bitcoin, plans to buy large amounts of Bitcoin. This further strengthens institutional investor confidence in BTC.
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Bitcoin Can Break 100,000 US dollars (IDR 1.58 Billion)?
According to Coinpedia data, if this bullish trend continues, Bitcoin is expected to surpass the US$94,000 (Rp1.48 billion) level and test a US$95,000 (Rp1.50 billion) limit. The success of keeping prices above this level could pave the way for Bitcoin to reach the psychological target of 100,000 US dollars (Rp1.58 billion) in the near future.
However, in the event of a bearish reversal, the price of Bitcoin is likely to re-test the support level at 90,000 US dollars (Rp1.42 billion). If the bearish pressure gets stronger, the price could drop deeper to the next support level at 81,000 US dollars (Rp1.28 billion).
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