DIGIVESTASI - The price of Bitcoin (BTC), the world's largest cryptocurrency, continues to show significant movement. After reaching a new record high above $100,000 on Thursday (Dec 5), Bitcoin's price experienced a pullback and was recorded at $99,965 on Saturday (Dec 6).

Tokocrypto trader Fyqieh Fachrur noted that Bitcoin's short-term trend will be heavily influenced by data on BTC-spot ETF flows in the U.S. and Donald Trump's appointment of a new Chair for the Commodity Futures Trading Commission (CFTC). If the selected candidate holds a pro-crypto stance, Bitcoin could potentially become a strategic reserve asset for the U.S.

However, Fyqieh emphasized the importance of monitoring activities from Mt. Gox and the U.S. government, both of which could exert additional selling pressure. On Thursday (Dec 5), Mt. Gox reportedly moved Bitcoin worth $2.43 billion to a new wallet, sparking concerns about potential market oversupply. Currently, Mt. Gox manages approximately 39,878 BTC, valued at $3.92 billion, for restitution to investors following its collapse in February 2014 when BTC was priced below $600.

“The crypto community expects creditors to liquidate significant gains after receiving payouts in BTC. These large transfers likely contributed to Bitcoin’s drop from $100,000, along with profit-taking by short-term investors,” Fyqieh explained in a statement on Friday (Dec 6).

Despite the volatility, Bitcoin has seen significant growth throughout 2024, with a year-to-date (ytd) increase of 131%. Some analysts are optimistic that Bitcoin's price could reach $200,000 by the end of 2025, with more ambitious projections suggesting it could exceed $1 million by 2030.

Fyqieh added that Bitcoin's increasing adoption among institutional investors and supportive regulations are key drivers of long-term optimism. Crossing the $100,000 threshold marks a milestone in Bitcoin’s journey toward broader acceptance.

“Institutional adoption is making Bitcoin increasingly recognized as a legitimate and stable asset. While short-term fluctuations persist, Bitcoin’s long-term prospects remain promising,” she noted.

FOMO and Bitcoin Investment Strategies

Bitcoin's price surpassing $100,000 has triggered a fear of missing out (FOMO) among investors, with many wondering if they’re too late to start investing. Some suggest buying Bitcoin during corrections or periods of price stagnation, while others believe the potential for long-term gains remains substantial even at high prices.

Fyqieh stressed that investment decisions should be based on confidence in blockchain technology and the global future of cryptocurrency.

“If investors believe in blockchain technology and its potential for global adoption, now could still be a good time to invest,” she stated.

Currently, Bitcoin is trading around $97,393, with some analysts projecting a rise to $120,000 by the first quarter of 2025. This increase is expected to be driven by growing institutional interest and clearer regulations across various countries.

Fyqieh emphasized the importance of having a long-term strategy and avoiding impulsive decisions based on price fluctuations.

“Bitcoin remains an attractive asset for those looking to invest in blockchain technology and make it part of a broader investment portfolio,” Fyqieh concluded.

Find more news and articles on Google News