Crypto Magic: Trump's Strategic Plan Is The Reason Bitcoin Prints New ATH

Illustration of Bitcoin assets (photo: freepic)

JAKARTA - Bitcoin (BTC) recorded a new record price in three consecutive days and this time it reached the price of All Time High (ATH) at 108,356 US dollars (Rp1.74 billion) on Tuesday, December 17.

Crypto's Financial Expert, Panji Yudha said that this increase was triggered by shocking news from US President-elect Donald Trump regarding Bitcoin's strategic plan in the United States.

According to Panji, the planned formation of the US Bitcoin Strategic Reserve or reserves will be part of a national strategy to strengthen the position of the United States as a major player in the world of digital assets.

"The Trump vision is in line with the steps of big companies like MicroStrategy, which continues to strengthen the Bitcoin narrative as a modern reserve asset," Panji said in a written statement.

In addition, Panji also mentioned that the increase in Bitcoin was also driven by expectations of cutting interest rates by the Federal Reserve in the last FOMC meeting in 2024 which will take place from 17-18 December.

"Based on the CME FedWatch Tool, there is a 96% probability that the Fed will cut interest rates by 25 basis points. If that happens, then Bitcoin has the potential to continue its positive trend," he explained.

However, the price of Bitcoin was recorded to have weakened at 103 thousand US dollars (Rp1.65 billion). However, Panji predicts the potential increase is still open as long as Bitcoin is able to survive above the psychological support level of 100,000 US dollars (Rp1.61 billion).

If this level is maintained, the bullish trend is expected to continue, providing an opportunity for Bitcoin to reach its next target of 110,000 US dollars (Rp1.77 billion)," he said.