Ethereum (ETH) Down 2.5% Today, Still Interesting to Buy?

Bittime - The price of Ethereum (ETH), the second largest cryptocurrency in the world after Bitcoin, experienced a moderate decline today, June 14 2024. Based on data from CoinGecko, as of 15:30 WIB, the price of ETH was around IDR 56.5 million, down 2, 5% compared to yesterday.

Despite the decline, ETH price movements in the last week have been quite volatile. Prices touched the highest level of IDR 61.9 million last Friday, but then decreased to the current level.

This article will discuss the current situation of the ETH/IDR price, the factors that influence the price, and whether ETH is still attractive to buy.

Factors Affecting ETH/IDR Prices

The ETH/IDR price is influenced by various factors, both internal and external. Some factors that need to be considered include:

• Bitcoin Price (BTC): Bitcoin price movements are often followed by ETH price movements. If the price of BTC rises, usually the price of ETH will also rise, and vice versa. This is because Bitcoin is considered the leading cryptocurrency on the market, and its price movements are often a benchmark for other cryptocurrencies.
• ETH Demand and Supply: The higher the demand for ETH, the higher the price. Conversely, if ETH supply is higher than demand, the price will tend to fall. ETH demand can be influenced by various factors, such as investor interest in Ethereum blockchain technology, the use of ETH in various DeFi (Decentralized Finance) applications, and so on.
• News and Regulations: News and regulations regarding cryptocurrencies, especially Ethereum, can influence investor confidence and ultimately influence their prices. For example, positive news about increasing adoption of Ethereum technology may trigger a price increase, while negative news about strict regulation of cryptocurrencies may cause a price decrease.
• Global Market Conditions: Overall global economic conditions can also influence cryptocurrency prices, including ETH. For example, when there is economic uncertainty or a financial crisis, investors tend to look for safe haven assets such as gold or US dollars. This may cause a decrease in the price of cryptocurrencies, including ETH.

ETH/IDR Trend Analysis

Despite today's decline, the long-term price trend of ETH/IDR is still positive.

• Increased Adoption of Ethereum Technology: Ethereum blockchain technology is increasingly being adopted by various companies and organizations. This could increase demand for ETH and drive future price increases.
• Ethereum 2.0: The full launch of Ethereum 2.0, which is scheduled to occur in the near future, is believed to improve the scalability and efficiency of the Ethereum network. This could attract more users and developers to the Ethereum ecosystem, potentially driving the price of ETH higher.

Is ETH Still Interesting to Buy?

The decision to purchase ETH or any other cryptocurrency should be based on careful research and consideration. Some factors to consider before buying ETH include:

• Risk Tolerance: Investing in cryptocurrency is a high-risk investment. Cryptocurrency prices can experience large fluctuations in a short period of time.
• Investment Objectives: Determine your investment goals. Are you investing for the short term or long term?
• Portfolio Diversification: Don't just invest in ETH, but also diversify your portfolio with other investment assets.

Even though ETH investment is high risk, the potential for profit is also large. With good research and the right investment strategy, ETH can still be an attractive investment option.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.