There Is A Positive Trend, Bitcoin Is Projected To Reach 100,000 US Dollars

Illustration - Bitcoin Indodax. (ANTARA/HO-Indodax/am)

JAKARTA - Bitcoin (BTC) crypto assets are predicted to be able to reach the price of 100,000 US dollars in the future. Crypto exchange industry players in the country are optimistic about the increase.

Indodax CEO Oscar Darmawan said that currently the crypto market recorded the prices of Bitcoin, Altcoin, and Memecoin currency showing a positive trend in which Bitcoin (BTC) was in the main spotlight by touching ATH at more than 99,000 US dollars or around Rp. 1.5 billion, before experiencing a correction to 90,000 US dollars.

With a market capitalization of US$1.9 trillion, he continued, Bitcoin has made the crypto market globally now has a capitalization of US$3.4 trillion.

"With the momentum maintained, Bitcoin can penetrate the psychological number of 100,000 in the future," Oscar said as quoted by ANTARA in Jakarta, Saturday, November 30.

This, according to him, could trigger the entry of liquidity greater than institutional and retail investors. With market capitalization continuing to increase and support from various innovations, he is optimistic that the crypto industry is on the right track to become an integral part of the transformation of the global digital economy.

"This step is proof that digital assets are not just a trend, but an important foundation for the future of the world financial system," he said.

He said the Bitcoin price spike had had a domino effect on altcoins, assets such as Ethereum and other altcoins had also increased, following a positive trend led by Bitcoin.

"This phenomenon creates great opportunities for investors to diversify portfolios and take advantage of market momentum," he said.

Oscar also explained that stablecoins are now widely used as stable value storage facilities amidst market volatility.

"This shows the important role of stablecoins in maintaining the balance of the crypto ecosystem, especially when investors take advantage of liquidity without leaving the market," he explained.

Meanwhile, memecoins like Bonk (BONK) are experiencing an increase, he continued, proving the influence of the crypto community in shaping market narratives.

However, he reminded investors to be careful, as memecoin tends to have high volatility and lacks long-term utility compared to key assets such as Bitcoin and Ethereum.

Oscar reminded the importance of caution, overbought market conditions signal potential corrections in the short term.

"Investors are advised to monitor the level of support and key resistance to manage risks," he concluded.