BTC Breaks $66,000, Understand Bitcoin's Bearish-Bullish Factors According to Akademi Crypto

Bittime – After the halving, Bitcoin prices tend to be sluggish. However, since yesterday Bitcoin has been a surprise because BTC reached more than $66,000.

However, this increase in BTC prices should not make you FOMO about selling or buying it. Because many factors influence the price of BTC. For more details, here are the factors for the rise and fall of BTC prices according to the Crypto Academy.

Bitcoin Price Today

Summer: Over

Above is a BTC price chart taken from Bittime. The graph above uses 3 indicators, namely MACD, RSI, and Bollinger Bands to determine the current condition of BTC in the crypto market.

When this article was written, the price of Bitcoin was at $66,318.41 with an increase of +0.19%. This price of course rose higher than the previous 4 days when it even fell below $62,000.

Check Today's Crypto Market:

Faktor Bearish-Bullish Bitcoin

In the crypto ecosystem, everything has factors that influence it. Bitcoin is no exception, as the "department" of the crypto ecosystem. If we are sensitive, we can know when the price of Bitcoin rises and falls. 

So, for those of you who are entering the crypto ecosystem for the first time, you can listen to the following explanation about the bearish and bullish factors of Bitcoin. This explanation is taken from a discussion held in the Margin Call streaming by Crypto Academy.

1. Inflation

Inflation continues to have an influence on crypto prices, including Bitcoin. This is of course related to users' purchasing power for crypto assets. When many people rule out buying Bitcoin, the price of Bitcoin may fall.

So, when the inflation trend has returned to positive, Bitcoin prices will no longer be sluggish.

2. Halving Bitcoin

Kalimasada said that there is always a template for BTC price increases related to halving. A year before and after the halving, BTC prices will tend to rise.

This explanation could be. Before the halving, the factor that influenced Bitcoin's rise was that people tended to have expectations about Bitcoin's limited supply. When many people anticipated this, many flocked to buy it in a short time causing the price of BTC to rise.

After the Bitcoin halving, it will also tend to be due to similar factors, namely a reduction in supply so that the price of BTC rises. In addition, minor adjustments also have an impact. This is one strategy to boost BTC prices after sluggishness during the halving.

3. US Elections

Politics can enter many sectors, including crypto. Election turmoil in a country can also affect BTC price conditions, especially in a superpower like the United States.

This year, to be precise at the end of 2024, there will be a US election. This is interesting to highlight because there are differences of opinion between the two presidential candidates. One supports the crypto ecosystem, the other does not so it affects the condition of the crypto ecosystem.

Apart from the issue of differences in candidate opinions, political attitudes before elections are common in stating that the economy is fine, especially when the president is actively running for re-election in the next election. 

Well, this is also a factor in increasing BTC prices because, with this political attitude to improve the economy, the crypto ecosystem is made strong to show that economic conditions are indeed good.

Also Read: Joe Biden and the Dynamics of Meme Coins Ahead of the 2024 American Election

Best Time to Invest in Bitcoin

So, when is the right time to invest in Bitcoin, either buying or selling it? The answer is by each research.

Investing in the crypto ecosystem is not an impulsive activity. Careful research must be done, on whether to sell or buy. This investment can also be said to be a long-term investment, not for the FOMO attitude of just following along.

BTC is a clear example of the nature of investment in the crypto ecosystem. In the beginning, BTC was widely underestimated, especially for conventional investment systems. However, look now, BTC has become a powerful token because it has such a high value.

Also Read How To Buy Crypto:

Conclusion

The good news is that the BTC price has reached more than $66,000 cannot be a reason to be impulsive, such as selling or buying immediately. You must first learn what factors influence price increases and decreases. That way, you can be firm in investing.

How to Buy Bitcoin (BTC) on Bittime

You can buy and sell Bitcoin (BTC) easily and safely via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

Bitcoin (BTC) is available on Bittime with the market pair BTC/IDR. To be able to buy BTC IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn the complete guide on how to buy Bitcoin (BTC) on Bittime. 

Monitor the movement of Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and other crypto charts to find out today's crypto market trends in real-time on Bittime.

Read Also: 

Top 5 Narrative Crypto 2024 Menurut Akademi Crypto

When is the Altcoin Season Coming? Here are 3 things you can do while you wait

Bitcoin Legality: Is Bitcoin Legal in Different Countries?

DISCLAIMER: This article is informational and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.