BITCOIN ON FIRE, CRYPTO ASSETS ARE ALREADY FUD RESISTANT

Jakarta - In the midst of various 'Fair, Uncertainty and Doubt' (FUD) sentiments from several countries such as China, crypto assets can actually continue to shoot up and crypto asset investors can gain big money.

Litedex’s CEO, Andrew Suhalim said, the re-emerging FUD does not have much effect on the value of crypto assets, because investors now need alternative commodities to invest in the midst of global economic uncertainty. In addition, the prohibition of cryptocurrency in China has made investors there to shift their assets to Decentralized Finance, such as Uniswap. This shows that crypto asset investment is difficult to contain, despite opposition from several countries.

Positive sentiment also came from the global market which contributed to the continued soaring price of bitcoin and ETH. Based on coinmarketcap.com data on October 15, 2021, the price of Bitcoin continues to approach 60,000 dollars, while ETH has touched the 3,800 dollar figure.

Standard Chartered CEO Bill Winters said that cryptocurrencies will survive and have an important role to play in financial markets going forward.

According to him, there are non-fiat currencies (which are not issued by the central bank), especially when some markets are worried about inflation.

Meanwhile, from the United States, positive sentiment came from the United States Securities and Exchange Commission (SEC) plan not to prohibit Cryptocurrency activities in Uncle Sam's country.

Andrew Suhalim considered that the attitude of the United States SEC leader, Gery Gensler, who did not prohibit the trading of crypto assets, was even expected to approve the Bitcoin ETF with Bitcoin Futures as the underlying asset, aka Bitcoin futures, to be a positive signal that strengthens the value of Bitcoin.

If the Bitcoin ETF has been approved to be listed on the United States exchange, it will trigger a strengthening in the price of Bitcoin, because it can be a parameter, how much market demand for Bitcoin is.

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