Posted by Xoken.org – The crypto and bitcoin markets continue to perform exceptionally well in recent days. BTC itself reached its highest price level not seen since late 2021.
Over the past 24 hours, bitcoin has risen by 4%, contributing to its significant gain of 22% in the past seven days. The value of Bitcoin has exceeded the threshold of USD 52,400 or the equivalent of IDR 819.8 million (assuming an exchange rate of IDR 15,646 per US dollar) and reached a market capitalization of more than USD 1 trillion or the equivalent of IDR 15,646 trillion.
According to Fyqieh, there are strong predictions given the current conditions that BTC will be able to reach the range of USD 77,000 or around IDR 1.2 billion to USD 90,000 or the equivalent of IDR 1.4 billion by the end of 2024.
“To achieve this target requires support from various other positive sentiments, such as increasingly supportive crypto asset regulations in the US, the entry of institutional investors, and increased awareness about the halving among the public,” said Fyqieh to Pilihannetizen.id, Friday (16/2 /2024).
Apart from that, according to him, the Fed’s dovish policy which will reduce interest rates will also be the main factor for Bitcoin’s bull run in 2024.
Halving is one of the long-awaited moments for crypto supporters, especially Bitcoin, in the near future, namely Bitcoin Halving Day. Leading up to this moment, a number of crypto sites are showing the Bitcoin Halving Countdown or countdown time.
According to a search of the CryptoOptionnetizen.id channel, on Friday via the NiceHash site, it showed that the 2024 Bitcoin Halving will occur in 59 days from the current date.
Previously reported, Microstrategy executive chairman, Michael Saylor rated Bitcoin as the most popular investment asset in the world.
For information, Microstrategy now has 190,000 BTC and claims to be the first Bitcoin development company in the world.
Quoting News.bitcoin, Friday (16/2/2024) Saylor explained his reasons for seeing Bitcoin as the most popular investment asset in the world. He said, one of the things that can be seen is the price performance of these crypto assets.
“I think a lot of this is indicative of bitcoin’s popularity as an asset class,” Saylor said.
“(Bitcoin) is new, digital, global, unique, and uncorrelated with traditional risk assets because it has no impact on countries, currencies, companies, quarterly results, product cycles, competitors – not to the weather, not to war, not to employee base or supply chain,” he explained.
“So that makes it a natural addition to any responsible investor’s portfolio. There’s 10 years of pent-up demand that people have been waiting for for this )spot bitcoin ETF) and finally mainstream investors can access bitcoin, and I think that’s what’s driving the surge capital across asset classes,” said Microstrategy’s chief executive.
Saylor then commented on the launch of a spot bitcoin ETF.
“Initially, there was a rebalancing as people moved capital between the futures markets, and the miners, and the Micro Strategies and ETFs,” he explained.
“I think the asset (Bitcoin) has found its footing and now people are starting to realize that there is 10 times more demand for Bitcoin coming through these ETFs compared to the supply coming from the natural seller which is the miners,” added Saylor.