The conference began with an introduction by Deputy Minister of Trade Jerry Sambuaga. He stated Coinfest Asia is one of the most prominent events supporting the growth of crypto in Indonesia.
“Congratulations to Coinfest Asia for making this event, I see the crypto industry as a very profitable and potential industry for the country. Crypto transactions in Indonesia have also increased significantly where in December 2020 the total transaction volume was IDR 64.9 Trillion and in December 2021 it increased to around Rp. 859 Trillion. This can be useful for state income, therefore I am very happy that this event can support the Indonesian crypto ecosystem, so the government is happy to support the digital trading ecosystem,” said Jerry Sambuaga in a press release, Friday (23/9). /2022).
Coinfest Asia is hosted by Coinvestasi, a media company that is a subsidiary of the Indonesia Crypto Network (ICN). This event was supported by Coindesk Indonesia who introduced and celebrated the expansion of their office to Indonesia at the event. They also involved support from the Indonesian Blockchain Association, the Singapore Blockchain Association, the Indonesian Chamber of Commerce, and more than 20 sponsors to provide advice and expertise to the participants.
During a panel on Identifying Crypto Market Cycles powered by Deepcoin, industry experts from Crypto.com, Deepcoin, Pintu, and Nansen discussed how the growth of investment by institutional firms in the crypto market provides not only a lot of liquidity, but also a lot of sophistication around risk, which drive market volatility. After an in-depth discussion of the status of the bear market, panelists were asked to give retail investors their opinion on how to trade more effectively.
“Follow the money. With traditional finance, a lot of information is not easily accessible to public investors, and with blockchain, the immutable nature and transparency of blockchain democratize access to everyone. You have to look at the data. Look at what the big Institutional investors are doing,” said Nansen’s CMO, Ingrid.
“If you want to predict the market, try predicting the amount of beer and pizza consumed at the conference, (but also the dollar cost average has proven time and time again to be very successful,” said Managing Director at Crypto.com, Karl.
Deepcoin’s Global Marketing Director Michelle ended the conversation with an inspiring summary, “Just go after the (projects) you like. Do your research, but do what you love. If you find a project you like, invest in it. But of course , never invest what you don’t want to lose,” he said.