Bitcoin Rises Fast, Beware of FOMO & Make You Poor

Jakarta, CNBC Indonesia – The price of the largest market capitalized cryptocurrency, bitcoin, successfully touched the US$ 62,000 level this morning, after last weekend breaking through the US$ 60,000 level.

Just a little more, bitcoin will hit the level all time highwhich was created last April, which was in the range of US$ 64,000.

In fact, bitcoin’s market cap continues to increase. Now, the market capitalization of bitcoin has reached Rp 1.17 trillion.

The driving factor for bitcoin’s still positive this morning is because investors are waiting for news of the approval exchange traded fund (ETF) in bitcoin this week.

This week, the United States (US) regulator plans to allow the formation of digital assets in the form of futures contracts for ETFs or types of mutual funds that can be traded on exchanges that use exchange-traded funds. underlying bitcoin.

Launch Bloomberg, the regulator in this case the Securities Exchange Commission (SEC), the US OJK, will allow the Bitcoin ETF to be traded this week.

The existence of regulations in the country of Joe Biden is increasingly paving the way for investors and investors trader be calmer in holding this digital asset with a market cap of over US$1 trillion.

A number of fund manager Global companies such as VanEck Bitcoin Trust, ProShares, Invesco, Valkyrie and Galaxy Digital Funds, have applied for permission to launch Bitcoin-based ETFs in the US.

Reuters reported, Nasdaq on Friday (15/10/2021) last week has approved the list of Bitcoin Valkyrie ETFs.

After a lengthy process, the regulator finally seems ready to give the green light to several submissions that will open the door to wider access to cryptocurrency for retail and institutional investors.

If the SEC really gives permission for this digital asset to be traded, the US will add to the list of countries that officially recognize bitcoin as an alternative investment asset.

Interest in digital assets in the form of cryptocurrency which mushroomed led countries such as Canada and even Europe to start launching -based ETFs cryptocurrency.

On the other hand, some analysts expect bitcoin to break into the $45,000 price range. Paul Spirgel, Analyst Reuters predict bitcoin price can go to level resistance range of US $ 45,200-46,500, judging from the technical analysis.

There is even a price opportunity towards US $ 49,000. If that point is penetrated, then it is not impossible that the price of bitcoin can penetrate US $ 50,000 which if converted into Rp 715.75 million.



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