JAKARTA - In the last 24 hours, Bitcoin has strengthened by 3.75% and is perched at the level of US$69,000 or around Rp1.16 billion, and even touched US$70,000 (Rp1.18 billion) on Monday night.
This positive movement occurred simultaneously with the strengthening of Gold, even though the military conflict between the United States-Israel against Iran has entered its third day.
Financial Expert Ajaib Panji Yudha assessed that this movement reflects investors' unique response to the dynamics of conflicts and uncertainty in the energy market.
The strengthening of Bitcoin occurred amid the military conflict between the United States and Israel against Iran which has entered its third day. President Donald Trump stated that a large-scale military operation was still underway to destroy Iran's missile capabilities.
According to Panji, the surge in Bitcoin to 70,000 US dollars reflects a reversal of sentiment from initial concerns about the conflict. Investors seem to be taking advantage of volatility as an opportunity, especially in high-risk assets such as crypto.
"Bitcoin prices show a dramatic reversal from the initial concerns of the conflict," Panji said in an explanation received on Tuesday, March 3.
In addition, Panji added, the positive sentiment of Bitcoin was also strengthened by corporate actions, where Strategy Inc again increased its ownership of 3,015 BTC worth around US$204 million in the period from February 23 to March 1.
With this purchase, Strategy Inc now controls a total of 720,737 BTC. The total cost of the company's acquisition amounted to approximately 54.77 billion US dollars with an average acquisition price of 75,985 US dollars (Rp1.28 billion) per BTC.
For today's trading, Panji projected that Bitcoin has the potential to move in the range of US$69,000-71,000 (Rp1.16 - Rp1.19 billion). Meanwhile, Ethereum is expected to be in the range of US$2,000-2,200 (Rp33.7 - Rp37 million).
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