The price of bitcoin fell on trading Sunday (3/4/2022), but in the last 7 days it was still able to record an increase. The price of this cryptocurrency is said to be able to fly high up to tens of billions per coin, but there are conditions.
Launching data from Coin Market Cap, at 11:54 WIB, bitcoin was in the range of US$ 46,138/coin or around Rp. 662.8 million/coin (exchange rate of Rp. 14,365/US$) down 1% in the last 24 hours, while in 7 days was able to strengthen 3.38%.
Another crypto asset, ethereum was down 0.44% at $3,463/coin, but was up more than 10% in 7 days. Then, BNB fell 2% to US$ 440.37/coin and rose about 6% for the week. Solana was the most sensational, followed by Terra who shot 34% and 27% respectively in the last 7 days.
Back again to bitcoin, its value is predicted to fly in the sky if it becomes one of the global foreign exchange reserves.
This was revealed by analysts from an investment company from the United States (US) VanEck, bitcoin is forecasted to reach US $ 4.8 million/coin or around Rp. 69 billion/coin, as reported by Coin Telegraph, Friday (1/4/2022).
However, according to the analyst, this will certainly be a big question, whether bitcoin will become a global foreign exchange reserve or not.
An analysis by VanEck’s head of active EM debt, Eric Fine and his chief economist Natalia Gurushina, compared the price implications of gold and bitcoin if both were adopted as the base currency.
The analysis shows bitcoin could be in the $1.3 million to $4.8 million range.
According to them, the sanctions imposed on Russia made the view of the currency began to change.
“Sanctions against Russia have reduced demand for major currencies, instead the focus is now returning to gold which is also a foreign exchange reserve, or to digital age assets such as bitcoin,” the analyst said.