Financial experts and crypto analysts, including Suze Orman, Michaël van de Poppe, Arthur Hayes, and Samson Mow, have shared their thoughts and opinions on Bitcoin's future. Orman recommends everyone have some exposure to Bitcoin, but prefers Bitcoin ETFs for safety. Van de Poppe predicts a short-term correction before a bullish phase, while Hayes closed his short position and now also expects a rally. Mow is also bullish on BTC, and urged investors to "HODL and keep stacking" Bitcoin as he believes it will eventually reach $1 million.
Bitcoin Belongs in Everyone’s Portfolio
Suze Orman, a well-known financial advisor, author, and host of the Women & Money podcast, recently shared her thoughts on Bitcoin (BTC) in an interview with CNBC. Orman does not agree with the opinions of many in the financial advisory space, and recommends that everyone should have some exposure to Bitcoin.
Orman believes that Bitcoin could become a very popular investment among the younger generation as they earn more and mature financially. She shared that this interest from younger investors could drive Bitcoin’s value higher over time.
While Orman acknowledged the potential of Bitcoin, she also showed some caution by stating that she has only invested through Bitcoin ETFs because of concerns about the complexities of wallets and the risks associated with crypto exchanges.
Though Orman is semi-bullish on Bitcoin, she does not believe it will ever become a currency or a reliable store of value. Her interest in the asset is largely based on the enthusiasm of younger investors, which she feels could eventually push Bitcoin into mainstream acceptance. At the same time, she prefers the relative safety of ETFs due to concerns about security.
Overall, Orman’s message is clear. She believes everyone should consider having at least some Bitcoin in their portfolio. However, she advises that investors should only allocate money they are prepared to lose.
Bitcoin Poised for Breakout
Suze Orman is not the only analyst with positive predictions for BTC. According to trader and analyst Michaël van de Poppe, Bitcoin is set for a “final correction” before entering a two-year bull run.
Van de Poppe predicted a short-term dip to $53,000, followed by a recovery that could kick off a long-term bullish phase. He identified $55,500 as a likely cap for the current upward move, with a dip to $53,000 expected before Bitcoin breaks back upward.
Despite six months of price consolidation, Van de Poppe is still confident that Bitcoin is nearing the end of this challenging period. He pointed out that recent liquidity movements have brought Bitcoin back up to around $54,800, and he expects further corrections before a big breakout occurs. While market sentiment is still a bit cautious due to fears of lower lows, he believes that the worst may soon be over for Bitcoin.
Van de Poppe also shared that the equity markets are showing some signs of fragility, as investors are eager to move their money into safer assets amid inflation fears. However, he expects this trend to reverse soon, which could benefit Bitcoin and other risk assets.
Comparing Bitcoin’s current behavior to that of 2019, Van de Poppe suggested that the crypto is in the early stages of a long-term bull market, rather than nearing the end of its cycle. He also pointed towards the potential impact of the upcoming Federal Reserve rate cuts, a weakening economy, and increased global liquidity as factors that could fuel the next major bull run for Bitcoin.
Anticipation is building for the Federal Reserve’s Sept. 18 meeting, where an interest rate decision could seriously impact markets. Lower rates are expected to increase liquidity, which could provide a big boost to Bitcoin and some other risk assets.
Arthur Hayes Also Expects Bitcoin Surge
Arthur Hayes, the former CEO of BitMEX, decided to close his Bitcoin short position after initially predicting a potential drop below the $50,000 mark over the weekend. On Sept. 6, Hayes shared some of his concerns about a deeper correction and opened a short position to profit from the downturn. However, on Sept. 8, he announced that he closed the position with a 3% profit, and now anticipates a potential Bitcoin rally as early as next week.
Hayes also pointed to increased U.S. dollar liquidity from the Federal Reserve as a possible catalyst for Bitcoin’s price surge. He suggested that further weakness in the economy and financial markets could prompt the Fed to inject more liquidity, which will boost investor sentiment in the crypto market. Additionally, Hayes believes that U.S. Treasury Secretary Janet Yellen could be watching the markets closely and may take action if conditions worsen, potentially leading to a Bitcoin price rally.
The idea that increased money supply could fuel Bitcoin's rise has been supported by other analysts as well. Jamie Coutts, chief crypto analyst at Real Vision, pointed out the correlation between Bitcoin and the M2 money supply, which includes cash and short-term bank deposits. According to Coutts, Bitcoin tends to move with shifts in M2 momentum, and the supply turned positive year-over-year in May of 2023 for the first time since November 2023, signaling a potential hedge against inflation like Bitcoin.
While concerns about a Bitcoin correction below $50,000 have spooked investors, some analysts argue that Bitcoin's September downturn is consistent with previous halving cycles. Rekt Capital shared that Bitcoin's recent 9% decline is in line with historical patterns, and after a similar drop in September of 2021, Bitcoin rallied by 39% the following month.
Historically, September has been quite a bearish month for Bitcoin, with an average return of around -4.69%. However, many people in the crypto space are still optimistic about a recovery in the near future.
Samson Mow Recommends HODLing
Galaxy Digital, which is led by Bitcoin advocate Mike Novogratz, recently transferred 1,652 BTC that is worth close to $90 million, to Coinbase Prime. This transaction was revealed by Smart Whale tracker Lookonchain, and caused some concerns among the crypto community, as many speculated about the potential implications of such a sale.
After the news, Bitcoin was hit with a 5.65% drop in 24 hours, falling from $56,590 to $53,400, although it later recovered to a price of $54,354. The plunge was triggered by a large sell-off, partly influenced by a downturn in the stock market after resorts suggested that Nvidia received a subpoena from the U.S. Department of Justice.
In response to growing concerns about Bitcoin's potential drop to $40,000, Samson Mow, the CEO of JAN3 and a well-known Bitcoin bull, shared his own perspective. Mow offered four strategies for those who believe in such a decline, including holding and stacking more Bitcoin, holding without buying more, selling all, or selling to buy at a lower price. However, Mow ended up dismissing the latter options as he believes Bitcoin will eventually reach $1 million, making “HODL and keep stacking” the only winning strategy.
Mow is also one of the many analysts still optimistic about Bitcoin’s future, and predicts that Bitcoin will first reach parity with cents and eventually with the U.S. dollar. He also advised people against selling in the current market conditions, and pointed out that holding onto Bitcoin and continuing to accumulate is the best course of action.
