The market is warming up for 2024 bull run but the bullish start has yet begun. Indonesia is not a big country in cryptocurrency so this news is locally hot only and it does not create big impacts globally.
The market will be warmed up more in coming months and I believe its bull run next two years will be related with Bitcoin Spot ETFs. When we have a first Bitcoin Spot ETF, Bitcoin will take that big news and fly over the Moon. When will it come?
I guess some late months in 2024, a few months after the halving in April 2024.
Big or not the upsurge of purchase and trade that this will bring is definitely going to do something to bitcoin's price, could make it move from its comfortable seat at 30k. could make it drastically jump to a different price point which it has been marinating now considering the halving is almost afoot. But the latter's not really somethign we should expect outright, since as you said, Indonesia's not really big when it comes to crypto and at most what they could do is create a surge of domino effects within the Southeast Asian Region.
at the end of the day all we could do here is speculate and hope for the best. The fact that countries are one at a time opening their doors for cryptocurrency amidst the backlash and hate is more than enough evidence that bitcoin and crypto has a chance to prevail.