Crypto Players Rise Rapidly, Assets Touch IDR 48.82 Trillion by Early 2024

Previously, the value of Bitcoin was predicted to continue to increase in the future. In fact, the price of Bitcoin has reached USD 63,100 at the beginning of this year.

CoinGecko rates the most popular cryptocurrency soaring as high as $63,100, before dropping slightly at the end of last week. Bitcoin is currently up more than 30 percent this year and almost 170 percent compared to last year.

Currently Bitcoin's value is just a few thousand dollars away from the record high of USD 69,044 reached at the peak of the crypto bull market in 2021. Experts predict this cycle could eventually lift Bitcoin beyond the coveted six-figure mark.

“The approval of mainstream financial institutions that issue ETFs, such as BlackRock and Fidelity, has helped encourage investors to turn to cryptocurrencies,” said Steven Lubka, managing director and head of private clients at Swan Bitcoin, citing Yahoo Finance, Tuesday (5/3 /2024).

According to him, exchange-traded products have made it easier to buy retail money and for people to add Bitcoin exposure to their retirement accounts, which has helped convince some naysayers, he added.

“People who were skeptical are now open-minded,” Lubka said.