Suara.com – Muhammad Kurnia Bijaksana, Founder of the Crypto Legend Indonesia Community, said that buying and selling (trading) Bitcoin should not be just a part of it. The correct way is to use data through technical analysis.
“Many people trade Bitcoin and other types of crypto assets based solely on ‘what people say’, there are even just joining in with friends without basic technical analysis, aka charting. Without using data, trading actually backfires. Not the profit you get, but instead you get lost. , “said Kurnia in the ‘Crypto Asset Trading Training’ which was held online at Zoom, written on Wednesday (10/3/2021).
The participants’ interest was very high. This is evidenced by the number of participants reaching 128, which is quite high for an online crypto asset training class.
“This training itself is very interesting because it also tested the FTX crypto asset exchange, which was founded and led by Sam Bankman-Fried. In the exchange, not only ordinary crypto assets are available, but also stocks, for example Tesla and Apple, including foreign exchange, ”said Kurnia.
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Sam Bankman-Fried was recently lined up as the second richest person in the world in the Cs Bitcoin business with a fortune of up to 10 billion US dollars or equivalent to Rp 143 trillion, based on research by the Hurun organization from China.
When to Buy and Sell
Kurnia said that technical analysis, aka charting, at least helps investors and traders, whether the asset price is right to buy or sell.
“So, we don’t just follow what people say, like on Twitter and so on. If we don’t have the knowledge, then we are victims of the ‘pump-pump’,” said Kurnia.
According to Kurnia, there are a number of basic principles in technical analysis, to predict future prices, based on the assumption that “history often repeats itself”.
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Another thing, technical analysis uses the probability method. That is, the results of the analysis are only probable, not always precise and definite.
“The results of technical analysis are also like a map to navigate the market. It is not like powerful advice, let alone like a ‘revelation’. Technical analysis must also be accompanied by 3 other important pillars, namely the trading system, fund management and psychology,” he said.
Kurnia gave an example of a simple indicator in technical analysis, namely using a Moving Average (MA). This indicator is quite powerful to use in the decision to buy or sell crypto assets, because in principle, it refines the picture of price movements on certain timeframes.
“MA basically filters out price movements that tend to contain noise, especially Bitcoin, for example, is known to be very volatile. When for example the MA is shorter, say MA50 breaks from the bottom of MA100 and MA200 (crossing), then prices can be said to start to increase. And vice versa, if the MA50 crosses above the longer MA, then the price can be said to have the potential to be corrected, “said Kurnia.
Bitcoin Price Prediction, 80 Thousand US Dollars per BTC
During the training, Kurnia predicted that the Bitcoin price has the potential to reach the peak price, which is 80 thousand US dollars per BTC in the long term. Meanwhile, in the short term, at least 63 thousand US dollars per BTC.
This bullish attitude is also accompanied by fundamental studies, that Bitcoin continues to be hunted by large companies.
“The latest news includes a MicroStrategy company from the United States that bought Bitcoin worth 1 billion US dollars in February to fight against bad inflation that may come in the future. There is another Tesla, the leader of Elon Musk with spending 1.5 billion US dollars in Bitcoin, “concluded Kurnia.