Jakarta, CNBC Indonesia – The collapsing price of the Terra LUNA crypto asset has caught the public’s attention. However, there are those who think that now is the right time to buy while the price is falling.
This was also asked by entrepreneur Sandiaga Uno, who is also the Minister of Tourism and Creative Economy, to Timothy Ronald, Co-Founder of Livestock Money, in his YouTube account Sandiuno TV, Sunday night (15/5/2022).
“Any tips for people who just invest in crypto? Moreover, crypto is now a means of payment,” asked Sandi.
“Yes, Gucci has received (payment using) Bitcoin. If I don’t like time the market, but just set aside a small portfolio. Maybe 2-3%, for example, want to invest IDR 10 million every month, try 2% in installments to buy Bitcoin, ‘ answered Timothy.
Regarding the collapse of crypto, Sandi Uno again reminded about the basics of investing in terms of placing assets in investment portfolios.
“If you want to learn (investing in crypto) a maximum of 5% of the investment portfolio, at that time I said very small allocations. But it turns out that many are against our advice, some are dominated by crypto investment,” he said.
Timothy said, the target price of Bitcoin from the big fund managers is very high. In fact, there are those who predict the price of Bitcoin could reach US $ 1 million by 2030, from its current position of around US $ 30,000 per coin.
“I did a rather stupid thing. When LUNA was 0.1 rupiah, I bought it. Now the price has gone up to around 4-5 rupiah, 1,400% in 3-6 hours. Crypto can be weird sometimes. But is now the right time? to buy? Just try (buy) the big Bitcoin, Ethereum, don’t buy the altcoins first,” he suggested.
According to Timothy, the price movement of other crypto coins will follow its anchor, namely Bitcoin. If Bitcoin goes up, small altcoins will also go up.
“Maybe 2024 to 2025, maybe the winter could be quite long. Bitcoin might be US$ 30,000 – US$ 40,000, but I also don’t suggest people for market timing, because no one knows,” he explained.
Sandi added, there is no right time to invest. Keep investing even though conditions are up and down, not even out. For example, even though currently in the midst of news that crypto assets are falling. According to him, what should be done if one of the assets falls is to evaluate the portfolio.
“You stay invested, never timing the market. Reallocation, switching portfolio. If we fall again, we can never guess correctly when we enter into an investment, wait when they are stable,” he said in Sandiuno TV, quoted Tuesday (17/5). /2022).
As is known, the Terra Luna crypto asset is the subject of much discussion. How not, the price of Terra Luna fell by 98% in the last week.
The price of this crypto asset, which was once the prima donna of investors, fell by 96.39% in the last 24 hours of trading on Thursday (12/5/202) yesterday. Quoted from CoinmarketCap, Thursday (12/5), at 13.00 WIB Terra LUNA was traded at US$ 0.32 or the equivalent of Rp 4,659 per coin.
When it was first issued it was valued at US$ 0.8 per coin and had reached an all-time high of US$ 119.55 per coin in April. In fact, it was once the crypto asset with the largest market capitalization of US $ 40 billion.
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