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
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
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Replies (3)
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
Yes, exactly!
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.