Had Fallen, Bitcoin Potentially Touched 100,000 US Dollars In The Near Future

Illustration of Bitcoin (photo: Unsplash)

JAKARTA - Bitcoin fell below $95,000 on February 9, after reports emerged about China applying tariffs on energy imports from the US, including crude oil and liquefied natural gas.

However, the fast response of the US President, Donald Trump, who set a 25 percent tariff on steel and aluminum imports, managed to push Bitcoin recovery to the level of 97,838 US dollars (Rp1.60 billion) on February 11 at 08.00 WIB.

Financial Expert Ajaib, Panji Yudha said that there will be several economic reports that will affect market movement in the future. However, he is optimistic that the potential for a rally of up to 100,000 US dollars (Rp1.63 billion) is still open.

"Reliance potential and above US$100,000 (Rp1.63 billion) remain open, especially with increased regulatory support," Panji said in a statement received on Tuesday, February 11.

In addition, several US states are starting to introduce legislation to build Bitcoin reserves, sparking speculation about the possibility of a global Bitcoin accumulation race.

In addition, the Federal Reserve Chair, Jerome Powell, will submit a semi-year monetary policy testimony to Congress on 12-13 February 2025. His statement has the potential to trigger major movement in the market.

Overall, Panji argues that although the market is still facing uncertainty due to trade policy and future economic data, sentiment towards Bitcoin remains optimistic.

"With increasingly friendly regulations and increasing institutional adoption, Bitcoin could soon test the psychological level of US$100,000 (Rp1.63 billion) in the near future," concluded Panji.