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The growth of the money supply is historically correlated with previous Bitcoin price bull runs.
The growing money supply in the United States could be the key to unlocking more upward momentum for Bitcoin (BTC), according to market analysts and historical chart patterns.
The M2 money supply estimates all cash and short-term bank deposits across the United States, and its growth has historically been correlated with previous Bitcoin bull runs.
The growth of the money supply could hold the key for the next leg up for the Bitcoin cycle, according to Jamie Coutts, chief crypto analyst at Realvision, who wrote in a May 16 X post:
The CEO of one of China’s largest Bitcoin mining companies says his firm is using a variety of models to try and pinpoint when Bitcoin’s current bull market cycle will end, and how high the top cryptocurrency will rise. Jiang Zhuoer asserts that Bitcoin has not nearly reached levels of attention it garnered during the 2017 […]
The post Here’s When Bitcoin’s Bull Run May Expire, According to One of China’s Biggest Crypto Miners appeared first on The Daily Hodl.