Famous Financial Advisor Dave Ramsey Compares Japanese Yen with Bitcoin, Here's What He Said!

Previously, Bitcoin was corrected 5.64% to USD 65,503 or the equivalent of IDR 1.03 billion (assuming an exchange rate of IDR 15,920 per US dollar) according to CoinMarketCap data on Wednesday, April 3 2024. Responding to this decline in Bitcoin prices, Crypto Analyst Reku, Fahmi Almuttaqin said there were several factors causing the decline in the crypto market.

Fahmi said that Bitcoin's correction in this period was driven by the Bitcoin Spot ETF netflow on April 1, minus USD 85.7 million or the equivalent of IDR 1.3 trillion, which was the first negative netflow since the positive netflow on March 25.

Fahmi said that the correction that occurred did not necessarily make Bitcoin less attractive or could be concluded as a change in trend direction. Because Bitcoin is still attractive as an investment instrument, especially with the dynamics of the world economy which is still struggling with inflation and growth challenges.

International and national economic conditions are still overshadowed by the success of efforts to reduce inflation and maintain economic growth, which also influences the investment climate.

“The reason is that the Fed's high interest rate of 5% or more, which has been going on since the end of March 2023 or has reached the current one year period, is still unable to reduce inflation to the stated target,” said Fahmi in a press release, Wednesday (3/4 /2024).