Global M2 Vs. Bitcoin Shows Bullishness As Analyst Sets Blast Off Date, Heres When
A recent analysis comparing Bitcoins price movement and the Global M2 money supply has added another data point to the growing argument for a bullish phase ahead for the cryptocurrency. Colin, a crypto analyst known on social media platform X as The M2 Guy, recently shared an update suggesting that Bitcoin may be on the verge of a significant upward move, and the expected timeline might continue to test the patience of Bitcoin traders.
Bitcoins Incoming Rally May Mirror M2s Explosive Growth
Colin, a crypto analyst known on X as The M2 Guy, has continued to build his case around the correlation between Bitcoin and macro liquidity trends. His outlook on Bitcoin, which is currently bullish, is based on an offset correlation between the cryptocurrencys price action on the daily candlestick chart and the global M2 money supply.
In a previous analysis, the analyst noted that Bitcoins price action on the daily candlestick chart has the best correlations on the 70-day and 107-day offsets. The most recent update from the analyst focuses on the 107-day offset, which he termed the most likely scenario.
Analysis of Bitcoins 107-day offset with the global M2 money supply shows that Bitcoin is about to go on a blast-off spike. However, this isnt just about a one-day spike. Colin projects the rally could last for two months based on the sharp vertical trend of the global M2 supply.
As for the timing, the 107-day offset suggests that the blast-off spike is expected to kick off around April 30 based on a mathematically strong correlation. If the M2 line continues its upward surge, the rally could last even longer.
Focus On The Macro, Not Just The Day
Although April 30 is a focal point in his projection, Colin cautioned followers not to become overly fixated on the exact date. Dont get caught up in the weeds, he advised. The larger narrative is more important, reflected in the soaring global M2 levels, which should create an environment ripe for Bitcoin and other crypto assets to benefit from increased liquidity.
In terms of a price target, the current trajectory of the global M2 money supply points to a rally above $140,000. However, interesting predictions have suggested that the Bitcoin price has a chance of doubling before the end of 2025.
At the time of writing, Bitcoin is trading at $84,310, having spent the last 24 hours trading in a range between $83,700 and $84,300. Based on this analysis of correlation with the global M2 money, bullish Bitcoin investors might need to wait for at least another month before any significant movement.
This delay might pose challenges for short-term traders depending on their positioning and risk tolerance. On the other hand, it gives long-term holders the opportunity to accumulate more bitcoins at the current low price before the predicted rally.
Read more: https://www.newsbtc.com/news/bitcoin/global-m2-vs-bitcoin-bullishness/
Text source: NewsBTC
