Bitcoin Records Strong Performance In Q4 2024, How Was The Movement Early In 2025?

Bitcoin. (Photo; Doc. Consumerist)

JAKARTA - Throughout 2024, the price of Bitcoin (BTC) has jumped more than 118 percent. Towards the end of the year, BTC looks perched at 92,500 US dollars (Rp1.49 billion) down about 3.87 percent since last December 1

"The BTC, which has increased by more than 118 percent this year, started from $44,000 (Rp710 million) on January 1, 2024 and is now moving above 92,500 US dollars (Rp1.49 billion)," said the Financial Expert Ajaib Kripto, Panji Yudha in a written statement on Tuesday, December 31.

According to Panji, the current selling pressure is mostly caused by profit-taking after Bitcoin scored its new high several times this month.

Uncertainty over the Federal Reserve's interest rate policy ahead of 2025 is also a negative sentiment, especially after the US central bank said it would delay cutting interest rates until at least March.

"In addition, President Donald Trump's inauguration, which is scheduled for January 20, adds to market uncertainty," added Panji further.

Although December results show a negative trend, Bitcoin and Ethereum still have the potential to record further growth in early 2025, supported by increased option activity and market optimism.

"If BTC is able to survive at the support level of 91,000 US dollars (Rp1.46 billion) and 85,000 US dollars (Rp1.37 billion), the opportunity to return to testing the level of 100,000 US dollars (Rp1.6 billion) in January 2025 remains open," added Panji Yudha.

Historically, January has been one of the positive months for Bitcoin. Data from Coinclass shows that the average price of Bitcoin in January rose by 3.35 percent since 2013. In 2023, BTC closed January with an increase of almost 40 percent.