It is predicted that the Bitcoin price will experience price appreciation as a result of the shift in perceptions of alternative wealth protectors by institutional investors. Given the large supply of US Dollars owned by the institution, at present it seems that with its value continuing to decline, liquidation continues.
As a result Bitcoin has become a destination for wealth protection due to its continuing perception as a new wealth protection asset in the financial world. Because of this perception, many analysts predict that this appreciation will come from institutional investors, who are specifically coming from Wall Street.
One obvious example on which this assumption is based is MicroStrategy and JP Morgan’s statement. Last week, MicroStrategy confirmed that they will make a $ 650 Million purchase of Bitcoin after the sale of the notes.
In addition, JP Morgan also stated that there is a potential demand from institutions of $ 600 Billion. So the possibility of this appreciation comes from this perception which is likely to continue to be strong.
It is reported that this appreciation coincided with selling pressure against the US Dollar due to the continued expansionary policy. In addition there are many predictions that this appreciation will come from institutional investors, especially from Wall Street.
Yesterday, Bitcoin just broke its upper limit at around $ 19,500 after a few days ago it struggled to break it. The result is that the current Bitcoin price is still appreciating to the $ 21,800 area and you can see Bitcoin $ 22,000. Bitcoin is currently monitored at a price of $ 22,184, equivalent to Rp. 313 million.
Currently Bitcoin is still seen continuing to experience a very significant price appreciation due to being closed yesterday with a green candlestick. It is seen that yesterday the appreciation of the price has broken through its upper limit in recent days by around 10%.
It is reported that this appreciation coincided with selling pressure against the US Dollar due to the continued expansionary policy. In addition there are many predictions that this appreciation will come from institutional investors, especially from Wall Street.
The result is currently Bitcoin is still fluctuating up in the $ 21,800 area after previously experiencing a correction at 00.00 WIB to $ 20,500. However, the current price seems to be still rising strongly which is rumored to be coming from the expansionary monetary policy of the US and institutional investors. Bitcoin is currently monitored at a price of $ 22,184, equivalent to Rp. 313 million.
America’s Expansive Monetary Policy Affects
It is reported that due to a statement from the FOMC (The Federal Open Market Committee) that the Central Bank will continue to push for expansionary monetary policy. The committee stated that the expansionary policy will continue until the desired target is achieved.
As a result of the expansionary monetary policy statement coming from the FOMC, the policy will involve open market operations. Thus, the policy to be implemented is not to cut the benchmark interest rate, which is likely to remain at 0% to 0.25%.
Currently, there is news circulating that the FOMC will plan an open market operation policy with large purchases of debt securities. As a result, this policy will boost the amount of money in circulation, especially through banks.
In addition, the central bank is also seen to continue to use swap lines which are US Dollar reserves to encourage international money supply. So it is likely that the US Dollar will continue to be eroded, which also makes institutional investors look for other alternatives to protect wealth.
With the widespread adoption of crypto and Bitcoin into several domains, it is likely that in the future the crypto market as a whole will also be better known. So that the current Bitcoin appreciation is likely to last longer.
