BITCOIN COULD DROP 20% IF MOVES STAY TIED WITH M2 MONEY SUPPLY: ANALYST
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✍️ An analyst predicts that Bitcoin could retrace to $70,000 if it continues to follow its long-standing correlation with the global money supply in cash and bank deposits.
👉 Bitcoin has tracked global M2 with a 70-day lag since September 2023 👉 The M2 money supply and its growth have historically been correlated with previous Bitcoin bull runs 👉 Bitcoin's price has increased alongside the M2 money supply, as increased M2 often signals inflationary pressures 👉 Not all analysts agree with Consorti's forecast, and some warn that President-elect Donald Trump's plan to impose tariffs on imported goods could strengthen the US dollar and pressure riskier assets like Bitcoin
-- #JoeConsorti #LynAlden #DavidQuintieri #JamesCheck #SamKB #ScottBessent #BenjaminCowen #technology
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