Global M2 Money Supply Script Update!
I have updated the TradingView script to remove the recent India M2 data spike, until we learn more.
Download the latest script here: 👇
https://colintalkscrypto.com/files/global_m2_script.txt
This is for those of you who are using my M2 Script to track shifted M2 movements against the Bitcoin price (and even for those influencers who use my script to make their own content and don't attribute it to me, such as @AltcoinDailyio today: x.com/AltcoinDailyio… )
As I said (see post below), I suspect this is a change in reporting method or maybe some kind of data error (it's almost a clean 10x which is suspicious), and not a genuine increase in India's physical world M2. Furthermore this "10x of M2" took place over one month. Is that actually real M2?
Therefore, it is deceptive when influencers make it look like BTC might reach $220k-$400k a month from now, when in reality that is very unlikely. That doesn't seem to be stopping influencers from making clickbait headlines, pretending like it could be true, even though the odds are very much against it.
That being said, if it does turn out that India's M2 surge (a masive 10x in one month) is somehow legitimate, that's fine too, and we can all re-enable India. I just think it's prescient to give it some time, to see if the spike gets removed or if any further information comes out regarding what India changed. If India truly 10x'd its M2 over a one-month period then so be it! But I'd like to see some proof of that first.
More important than anything else, we want this Global M2 chart to be practical and useful for our purposes of predicting where the BTC price might go. Not as a hype tool.