JAKARTA - The price of Bitcoin (BTC) has again recorded an impressive recovery. Based on CoinMarketCap, on Tuesday, April 22 at 08:00 WIB, BTC moved $88,300, up 17 percent from the decline of $74,500 on April 7.
Based on Crypto's Ajaib records, Bitcoin itself has risen more than 30 percent since the last half of April 20, 2024, which cut the reward mining from 6.25 BTC to 3.125 BTC.
Ajaib's Financial Expert, Panji Yudha said that institutional and retail investors are seen again making BTC a hedge asset, amid rising global uncertainty.
"The return of the institutional flow of funds shows that Bitcoin is increasingly seen as a strategic hedge, not just a speculative asset," Panji said in his statement.
Meanwhile, Panji explained, from a technical point of view, as long as BTC can last above USD 85,000 (IDR 1.43 billion), it has the potential to test MA-100 and resistance USD 91,000 (IDR 1.53 billion).
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The trade tension between the US and China has become sharper after the announcement of the retaliatory rate by China. Meanwhile, President Donald Trump again criticized the Fed chairman, Jerome Powell, and even threatened to dismiss him.
According to Panji, the tension between the executive and the monetary authority creates uncertainty that suppresses the equity market and strengthens the appeal of alternative assets such as Bitcoin and gold.
"The weakening of the dollar and geopolitical pressure are new fuels for alternative asset rallies such as Bitcoin and gold," he added.
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