This week was notable for the rise that bitcoin (BTC) has experienced. The digital currency is seeing an increase that leads analysts to predict that a new all-time high will be reached in the coming weeks. There are several factors that seem to be favoring this trend.
The staggering increase in the M2 money supply is one of the factors working in favor of the digital currency. The global money supply reached a new all-time high in May, amid a growth that has not stopped increasing over the past year. With more money in circulation, fears of rising inflation grow. However, this also pushes the price of BTC up.
