WOW!!! BITCOIN Rises To $62,000 Dollars
WOW!!! BITCOIN Rises To $62,000 Dollars. The most popular and oldest crypto asset in the world, the price of Bitcoin (BTC) has just set a new record or what is commonly known as an all time high. Bitcoin managed to touch the level of US $ 67,922 per BTC on Tuesday (9/11) or equivalent to (IDR) Rp. 967,280,598 per chip.
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According to the Commissioner of Zipmex, Nayoko, the success of Bitcoin again breaking through the all-time high is in line with the positive sentiment towards Bitcoin that continues to grow. One of the reasons is the increasing adoption of Bitcoin and the increasing number of institutional investors who entrust this asset as a store of value.
“As of October 29, 2021, the company MicroStrategy bought up almost 9 thousand BTC. This brings their BTC assets to 7 billion US dollars. While the market capitalization of BTC itself is only US $ 7.4 billion. This makes MicroStrategy the owner of the most BTC in the world," said Nayoko in a written statement received by finance.co.uk, Tuesday (9/11).
This new record makes Bitcoin the eighth largest asset in the world by Companies Market Cap, beating Tesla and Facebook. The crypto asset market since the beginning of last October is in a bullish mode. Within one month, the total market capitalization value of Bitcoin assets increased to US $ 1 trillion. As a result, the entire crypto asset market capitalization alone has reached US$ 3 trillion according to CoinMarketCap.
In addition to Bitcoin, Ethereum also reached a new all-time high on Monday (8/11) at IDR 67,985,263. Nayoko said this increase occurred because the Ethereum network burned more Ether (ETH) than it produced in the previous week. This mechanism came about after Ethereum introduced the Ethereum London Hard Fork upgrade.
“There is a possibility that the price of Bitcoin and Ethereum will continue to increase. Therefore, for a long run, HODL can be a good decision for investors, both for Bitcoin and Ethereum,” concluded Nayoko. Referring to Coinmarketcap, at 15:52 WIB, the price of Bitcoin was at the level of US $ 68,056.34 per BTC. While the price of Ethereum is at the level of US $ 4,809.69 per ETH.
The price of crypto assets such as bitcoin and ethereum continues to strengthen. In fact, in the trading session on Tuesday (11/9/2021), the two crypto assets with the largest market capitalizations again set record highs. Based on Indodax data, in Tuesday's trading session, the price of Ethereum had reached Rp. 68.3 million and the price of bitcoin reached Rp. 968.3 million. "With this price strengthening along with the breaking of record prices for ethereum and bitcoin, it shows that investors believe in the fundamentals of these two crypto assets so that they continue to buy in the market," said Indodax CEO, Oscar Darmawan, in a statement, Tuesday.
Oscar said, when compared on an annual basis, the price of ethereum and bitcoin has grown very rapidly. It was recorded that in November 2020 the price of ethereum was in the range of Rp. 8.8 million and bitcoin around Rp. 240 million.
"That is a sign that the Ethereum price increase has reached 675 percent and the Bitcoin price increase has reached 303.5 percent from the previous year," he said. Oscar further explained, the main sentiment that made the price of ethereum soar was the London Hard Fork upgrade some time ago, changing ethereum to ethereum 2.0.
With the ethereum 2.0 upgrade, ethereum has turned into a proof of stake and there is an autoburn feature or annihilation of the existing ethereum amount to limit the supply and expand the crypto network.
"With this restriction, the supply of ethereum that will circulate will become even more scarce," said Oscar. As for bitcoin, Oscar continued, the main sentiment is a blockchain update called Taproot which will be active between this week or next week. Through this upgrade, there are improvements to the bitcoin system that highlight user privacy, smart contract features, and cost efficiency to process complex transactions to make it much cheaper.
"With this increase, it is certainly one of the strong factors driving whales or big investors to invest in bitcoin, so that it also spread to the strengthening of bitcoin prices today until finally bitcoin prices broke a record high again today," said Oscar. Although the price had dropped significantly some time ago, Oscar said, ethereum and bitcoin are very suitable if used as long-term investments. "Ethereum and bitcoin are already available on Indodax and can be stored as future assets by anyone at any time," said Oscar.
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