Bitcoin [BTC] is currently encountering hurdles in surpassing the $60,000 mark, despite a 1.21% increase in the past 24 hours, with its value at $55,224 at the time of reporting, as per CoinMarketCap.
Suze Orman’s faith in BTC’s capabilities
Although facing these challenges, the esteemed financial expert and presenter of the “Women & Money” podcast, Suze Orman, has recently stressed the significance of having Bitcoin in one’s portfolio.
During a conversation with CNBC Make It, Orman pointed out how the next wave of investors could significantly impact the course of cryptocurrencies’ future.
She mentioned,
“Everybody should definitely have some exposure to bitcoin. However, in case my prediction is incorrect — and I have been wrong before — one must be comfortable with the possibility of losing that investment. Only invest an amount that you can afford to lose.”
This statement is quite surprising coming from someone known for their skepticism towards crypto assets.
Owning Bitcoin based on age
Despite multiple reasons enthusiasts cite for holding Bitcoin, like its role as a hedge against inflation or a store of value, Orma holds a divergent perspective.
She expressed,
“As the younger demographic accumulates wealth and matures, Bitcoin will become a prominent investment choice for them, underscoring an upward trajectory in its value.”
She further stated,
“I do not anticipate it becoming a currency or a traditional store of value. Nonetheless, owing to the youth’s strong interest and engagement, which is palpable, a significant surge in popularity could be on the horizon.”
This viewpoint finds support in a recent Triple.A survey, revealing that over 560 million individuals globally hold cryptocurrencies.
The survey highlighted that 34% of crypto holders fall between the ages of 25 and 34. Moreover, 65% of the world’s populace expressed an inclination towards utilizing cryptocurrencies for transactions.
Potential for a bullish trend in Bitcoin
Despite Bitcoin’s current downtrend, various indicators suggest a potential upcoming bull run.
One critical indicator is the broadening Bollinger Bands, indicating heightened volatility that might drive the prices higher.
While Bitcoin is currently hovering near the lower band, signaling a bearish pattern, a similar scenario was observed a month ago before Bitcoin surged to $65,000, hinting at a possible repetition.
The optimism within the crypto community
Furthermore, Vivek, the founder of Bitgrow Lab, has drawn parallels between Bitcoin’s price patterns during 2014-2017 and the ongoing trend from 2022-2025.
He is of the view that these historical patterns imply Bitcoin is gearing up for an imminent bullish period.
Moreover, CryptoCrypto’s analysis of IntoTheBlock data on market sentiment revealed a dominance of bullish signals over bearish ones, with 13 bullish indicators compared to 12 bearish ones, pointing towards an overall optimistic trend.
Hence, a breakthrough above the resistance level at $59,993 could signify the commencement of a bullish phase.
In the words of “The Bitcoin Energy Standard,”
“In the realm of finance, #Bitcoin stands out as the ultimate choice.”