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Analyst: Increase in M2 to Drive Bitcoin Price Up, Could Reach $150,000 by Year End
Summary: According to Forbes, Matt Mena, a cryptocurrency research strategist at 21Shares, stated that as M2 money supply begins to rise again, historical data indicates that some liquidity will flow into Bitcoin and other digital assets. Historically, the price of Bitcoin has closely tracked M2 money supply, which is the Federal Reserve's estimate of liquid assets, ...
According to Forbes, Matt Mena, a cryptocurrency research strategist at 21Shares, stated that as M2 money supply begins to rise again, historical data indicates that some liquidity will flow into Bitcoin and other digital assets. Historically, the price of Bitcoin has closely tracked M2 money supply, which is the Federal Reserve's estimate of liquid assets, including cash, deposits in checking accounts, savings accounts, and other short-term savings instruments. Cryptocurrency influencer Anthony Pompliano, who is set to lead a new Bitcoin acquisition company, wrote in an email that if Bitcoin continues to follow the growth in money supply, we may see the price of each Bitcoin reach $150,000 by the end of the year.
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Link: Analyst: Increase in M2 to Drive Bitcoin Price Up, Could Reach $150,000 by Year End [Copy]
