This is a great chart. BTC price (black) and global M2 (blue). The two are highly correlated, as is often pointed our by nostr:npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l.
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
Interesting and bullish - Also interesting that BTC peaks precede M2 peaks.
So is M2 a lagging indicator? Trying to imagine a mechanism. - Maybe smart BTC (LTH retail) anticipates rate moves to front run the FED.
nostr:npub1qh5sal68c8swet6ut0w5evjmj6vnw29x3k967h7atn45unzjyeyq6ceh9r
Thoughts?
As the price begins to rise, the speculators pile in out of FOMO causing that unsustainable parabolic move to the upside which eventually corrects.
