Casey R's avatar
Casey R 1 year ago
image This is a great chart. BTC price (black) and global M2 (blue). The two are highly correlated, as is often pointed our by @less. Historically, #bitcoin bull markets have coincided with increases in global M2... which has just begun to increase again now. Hold on to your hats! #bullish Source: bgeometrics

Replies (3)

ZimFox's avatar
ZimFox 1 year ago
Ok - Yes - that makes sense - thanks. So initial runup triggered by M2 growth - BTC overreacts with FOMO and then peaks prior to M2 peak correcting faster to a new base level
Yeah, it was a bummer, especially because most people were overly optimistic given that nation-state adoption was becoming a thing. But no blow off top. Maybe this cycle.