Despite Going Up And Down, Bitcoin Opportunities Reach 100,000 US Dollars Still Wide Open

Illustration of Bitcoin (photo: Pexels)

JAKARTA - The price of Bitcoin recorded a significant spike in November 2024, with an increase of more than 40.8% in a month, breaking the figure of 99,000 US dollars or around Rp. 15.7 billion.

Tokocrypto trader, Fyqieh Fachrur, observed the dynamics of this market as a great opportunity for investors to take advantage of short-term and long-term momentum.

According to him, the significant increase in Bitcoin prices this month shows that investor sentiment towards crypto assets is still very strong, especially after Donald Trump's victory in the US presidential election.

"Bitcoin managed to re-test at the level of 91,000 US dollars (Rp1.44 billion), confirming that the old resistance level has now turned into a new support level," explained Fyqieh in a written statement.

According to him, with gusts above 94,500 US dollars (Rp1.49 billion), BTC has a great opportunity to reach the psychological figure of 100,000 (Rp1.58 billion) by the end of December 2024.

"Although the price of Bitcoin is currently still facing corrections, the bullish trend remains dominant. Technical indicators show promising potential," he said further.

Fyqieh also said that with stable inflationary data and the Fed's monetary policy expected to loosen, Bitcoin's prospects for the 100,000 milestone (Rp1.58 billion) are increasingly open.

"Although volatility remains a challenge, many analysts believe that the bull market cycle this time has not yet reached its peak," he concluded.