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
Why the flippening? SBF?
What do you mean?
It looks like M2 "outperforming" bitcoin starting in 2020. Just by looking at the chart.
However, I remember some people believing that SBF manipulated the market and artificially lowered the price of bitcoin.
Right. The bull market in 2021 was cut short, in large part due to China banning mining and sending the hash rate plummeting. After that was the FTX fiasco. I don't know if SBF was manipulating the BTC price, but those two things definitely had an impact.
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.
Great chart! 🤝
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.
