Bitcoin $700, 000 ??
The Indonesian crypto market in 2024 is predicted to continue to rally, after Bitcoin (BTC) as the largest crypto asset penetrates the psychological level of US$42,000 per coin, or the highest level since May 2022. Based on Coinmarketcap data on Tuesday, (5/12/2023) at 17.30 WIB, thecrypto coin with the largest capitalization, Bitcoin, touched its highest level at around US$41,750.
Optimists in the crypto world, including Adam Back, predict that Bitcoin could surpass gold's market capitalization, with the potential to reach apeak of up to $700,000. They believe this scenario may occur during the next price spike, which may be triggered by the upcoming halving.
The halving makes the supply of bitcoin limited,which will raise the price of this digital currency. Meanwhile US exchanges will approve the first Bitcoin ETF after years of opposition,meaning investors can buy the product and track prices without having to go to anexchange.
In conclusion, as we enter 2024, Bitcoin is not only faced with the prospect of price increases driven byinternal and external factors, but also with the potential to further consolidate its position as a key asset in the digital financial ecosystem. With a variety ofpotential projects and developments, Bitcoin continues to be a hot topic of conversation among investors, analysts, and crypto enthusiasts.
