The crypto market in Indonesia is actually more dominant in tokens or coin memes. Because most Indonesians play on a small scale and hope for a large price increase in general. Why is it because the majority of Indonesian crypto enthusiasts tend to position themselves in a safe zone condition and the amount of capital is not too large?
The intended safe zone is a zone where money invested in crypto by Indonesian players is essentially entered as a dead or lost financial condition. So that psychological conditions and basic financial conditions are not burdened even if the funds invested require a long or long term.
While the amount of capital, from the number of Indonesian people. The majority of the lower-middle-class conditions still tend to be more than those of the upper-middle class. Especially if you look at the average millennial who is still a student or student. So it can be said that in Indonesia it is more directed to speculators or short term, rather than keeping it for the long term because there are more traders than investors. On the other hand, there are still many investors who start investing in crypto assets due to the “fear of missing out” or FOMO. This typical investor does not understand each selected asset profile and invests because he wants to get a quick profit.
So from this, it can be seen that their main goal is to seek profit with small capital. So this happens from choosing a meme coin or token that is still new or a relatively affordable price. Plus, many public figures who play cryptocurrency also voice or provide input on things like that. The number of actors in the crypto world in Indonesia who have succeeded in starting their steps to play from meme coins or tokens.
However, this moment of investor growth has also been used by various exchanges in Indonesia to strengthen public education regarding the crypto-asset ecosystem in Indonesia. This aims to provide an understanding for existing and new investors to recognize the profile of crypto assets, such as carrying out appropriate analytical techniques to understand the market, as well as learning the blockchain technology that supports it. Because this kind of thing is seen as also giving birth to derivative impacts on many people in the future.
Over the last few years, it can be seen that the number of crypto users has grown, when viewed from 2018 and mid-2021. Breakdown, Crypto asset investors until the end of February 2021 reached 4.2 million people based on data from Bappebti. Report data shows that investors in Indonesia produce more use of news publications, technical analysis, and telegram group discussions, to help them make investment decisions.
The most notable development is in the application of crypto assets, such as DeFi, Stablecoins, and loans, as well as NFT, due to the fact that this class of assets together with their technology is seen as having unlimited potential and utilization, and this is what has attracted many institutional investors as well. And one thing that cannot be denied is the problem of the effects of rising prices for Bitcoin and other crypto-assets.
In Indonesia, if you look closely, actually crypto assets are more widely known and recognized as cryptocurrencies. Although the general problem is that it still cannot be used as a transaction tool in Indonesia, so the regulators prefer to use the term crypto-asset instead of cryptocurrency.
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