😳I want to show you something like this about $BTC:
Recently, screenshots and charts have been circulating on the internet claiming that the price of Bitcoin is directly proportional, with slight fluctuations, and follows the chart.
👉M2 is one of the main indicators of the money supply in circulation in the economy. It includes money that can be quickly used for purchases, as well as those that are slightly less liquid than cash.
In fact, there are arguments as to why Bitcoin is following the movement of this chart, but here is the main problem that I see with BTC and a significant difference with M2. According to the theory regarding M2, we should confidently be heading towards 150-200 thousand. Who believes in this?
Sounds quite optimistic, doesn't it?
And now take a look at the screenshot I attached below. We set an ATH🔴,
and the price goes into a correction🟢-17%. And when we surpass the ATH, we already go into a much deeper correction of up to 31%. Then the situation repeats itself on the right side of the chart. We set an ATH🔴 and the price goes into a correction🟢-12%.
In fact, there are no guarantees that this will work and be exactly so, but we can definitely see the correlation, and the charts are quite similar.
And what do we see now? Is the situation repeating itself?
P.S. This is my first time writing in such a format, share your thoughts on this, the medium-term future of BTC, the correlation between M2, and just your thoughts on this!
