Bitcoin Price Rises, Indodax Gives Tips For Crypto Investment For Beginners

Photo: Crypto investment Tips (photo: Indodax)

JAKARTA - On Tuesday, March 21 yesterday, based on the Indodax market, Bitcoin was at IDR 428 million. The price increase moment experienced by Bitcoin has also been going on since last week after the announcement of the Silicon Valley Bank case.

The price of Bitcoin rose by 14 percent when compared to the price on the same date in February 2023 which was perched at IDR 376 million.

From this Bitcoin price movement, it can be seen that the price of Bitcoin tends to rise in early 2023. Highlighting this upward trend, Indodax CEO Oscar Darmawan is not surprised that many investors are now buying Bitcoin a lot.

"As a hedge asset, Bitcoin is considered a safe asset class that is considered safe by several investors. With the price of Bitcoin which touched its highest moment in 2023, of course, it is not surprising that investors are currently buying a lot of Bitcoin, so the price has also increased because of the increasing demand," said Oscar in a written statement received in Jakarta.

For novice crypto investors who want to invest in crypto this year, as one of the players in the crypto industry, Oscar feels that this year is the right year because soon Bitcoin will enter the halling day phase, where this phase greatly affects the increase in Bitcoin prices.

In order to gain profits in Bitcoin transactions, Oscar suggested that investors need to choose a legal and registered crypto exchange from CoFTRA. Indodax is one of the crypto exchanges.

"In addition, it is important for investors to use cold money (money that is not used for their daily interests) to invest in Bitcoin. Beginner investors need to understand that investing in Bitcoin and crypto assets has a high risk," he explained.

Therefore, Oscar added, by using cold money to invest in Bitcoin, investors will not rush to sell if prices are down and can maximize their profits.

The last tip, amid the large number of novice investors who FOMO or only participate in crypto investment trends without considering trading plans, Oscar highlighted the importance of Do Your Own Research and first understood fundamental and technical analysis of Bitcoin.

"It is very important for investors to do Do your Research, learn first the right trading technique by considering time frame trading, the right fundamental analysis and technical analysis in order to determine when the right time to buy and sell so that it can maximize existing profits," concluded Oscar.