Jakarta, Indonesia Sentinel — Bitcoin (BTC) prices continued their upward trend on Saturday, November 16, with a 4.7% increase over the past 24 hours, reaching $91,299 (Rp1.45 billion), according to data from CoinGecko. The leading cryptocurrency now boasts a total market capitalization of $1.8 trillion.
The rally wasn’t limited to Bitcoin; other major cryptocurrencies also saw gains in the same period. Ethereum (ETH) edged up 0.7% to $3,101 (Rp49 million), while XRP surged by 11.1%, reaching $0.918 (Rp14,586). Solana (SOL) climbed 3.8% to $219 (Rp3.4 million). Meanwhile, Cardano (ADA) experienced a significant spike of 15.9%, hitting $0.6754 (Rp10,781), and Dogecoin (DOGE) posted a modest increase of 0.3%, trading at $0.379 (Rp6,024).
The recent growth in Bitcoin prices has fueled speculation that the digital asset could soon hit the $100,000 (Rp1.5 billion) milestone. According to a report from Daily Coin, Standard Chartered even forecasts that Bitcoin could soar to as high as $200,000 (Rp3 billion) by the end of 2025.
Ethereum is also projected to reach new all-time highs, with predictions suggesting it could surpass $10,000 (Rp150 million) within the next year. Additionally, data indicates a surge in retail trading volume over the past 30 days, marking the highest levels seen in four years. This trend highlights not just institutional players driving the market but also strong enthusiasm from retail investors.
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Oscar Darmawan, CEO of Indodax, noted that Bitcoin’s price surge reflects growing market confidence in the asset. “This opens up opportunities for Bitcoin to achieve even higher valuations in the future,” Darmawan said, as reported by Antara. He emphasized that external factors, such as global policy developments and rising interest from major financial institutions, are contributing to this positive momentum.
“I’m optimistic that Bitcoin will become increasingly attractive, not just for retail investors but also for institutions seeking asset diversification amid global economic uncertainty,” Darmawan added.
Bitcoin’s rise as one of the world’s largest assets marks a significant milestone for the growing cryptocurrency industry. This status not only boosts public confidence in digital currencies but also paves the way for broader adoption in the financial mainstream.
(Raidi/Agung)
