Bitcoin Drops, Bullish's Fate Is In Donald Trump's Hands When Inaugurated

Donald Trump (photo: Unsplash)

JAKARTA - The corrected crypto market is quite deep after the recent release of some of the United States' economic data. Bitcoin, which had increased above 100,000 US dollars (Rp1.61 billion), has now dropped back to the level of 95,000 US dollars (Rp1.53 billion).

The decline was also accompanied by a decrease in the majority of crypto assets in the market including other major crypto assets such as DOGE, AVAX, LINK, DOT, and UNI, which have decreased by more than 10 percent in the last 24 hours, respectively.

According to crypto analyst from Reku, Fahmi Almuttaqin, the correcting of the crypto market was triggered by growing investor concerns about a potential increase in US inflationary pressures, which may stop the Fed from continuing to decline interest rates.

However, according to Fahmi, in the midst of the dynamics and outlook, the momentum of Donald Trump's inauguration on January 20 has the potential to be a positive catalyst for the crypto market.

"So, in general, the current situation in the crypto market and US stocks can be said to be quite challenging with opportunities that are still open amid the huge challenges that exist," explained Fahmi further.

The existence of new policies or initiatives that are more supportive to the crypto market by the US government under Trump's leadership, is expected to be an important factor in the current rally.

Thus, Fahmi said that this situation requires investors to be more responsive, careful, disciplined, and courageous in making decisions.

According to him, for investors who tend to prioritize the fundamentals of an asset, they can invest in crypto assets that have the largest market capitalization.