Not Only Bitcoin, Ethereum And Altcoin Also Skyrocketed At The End Of November

Illustration of Bitcoin, Ethereum, and Altcoin (photo: Pexels)

JAKARTA - Bitcoin (BTC) recorded an increase of 37.29% and closed at 96,449 US dollars (Rp1.53 billion) in November. In fact, the price of Bitcoin had scored All Time High (ATH) several times during November at 99,588 US dollars (Rp1.58 billion).

On the other hand, Ethereum (ETH) rose from consolidation over the past five months recording an increase of 47.21% and closed at the level of $3,705 (Rp59 million) in November 2024. Overall, the crypto market experienced tremendous growth, with total market capitalization soaring by 72% since the US general election.

Crypto's Financial Expert, Panji Yudha, said that this increase was not only felt by Bitcoin and Ethereum, but some altcoins were also seen shining.

Some altcoins recorded a fantastic increase, one of which was Ripple (XRP), which jumped more than 430% in the last 30 days. XRP has also succeeded in shifting Solana (SOL) and Tether (USDT) positions by market cap, "explained Panji.

However, overall, President Donald Trump's administration reportedly plans to remove capital gains taxes for crypto assets issued by US-listed companies.

If passed, Panji explained that this policy would later exempt US investors from taxes on profits obtained from the ownership of certain digital assets.

But, in terms of technical analysis, Panji said, "If BTC manages to rebound, the opportunity to test the All Time High (ATH) area at 99,588 US dollars (IDR 1,58 billion) is still open. However, if BTC drops below MA-20, there is a potential decline towards support at 91,000 US dollars (IDR 1,44 billion)"