Comparative Analysis of Global M2 and Bitcoin Signals Bullish Sentiment
Colin, known as “The M2 Guy,” predicts a bullish trend for Bitcoin, aligning its price movement with the Global M2 money supply. His analysis points towards a significant “blast-off” date around April 30, suggesting an upward rally lasting potentially two months. Bitcoin could surpass $140,000 as M2 levels rise, although traders may need to be patient for near-term movements.
A recent analysis by Colin, a cryptocurrency analyst known on X as “The M2 Guy,” suggests a bullish phase may be approaching for Bitcoin, particularly through its correlation with the Global M2 money supply. This relationship indicates a potential significant upward movement for Bitcoin, although this may require some patience from traders as they await developments.
Colin’s analysis highlights that Bitcoin’s price movement shows strong correlations with macro liquidity trends on daily candlestick charts, particularly at 70-day and 107-day offsets. His recent insights focus on the 107-day offset, which he believes presents the most probable scenario for Bitcoin’s anticipated upward trajectory, coinciding with explosive growth in the M2 supply.
The projections indicate a substantial “blast-off” in Bitcoin’s price commencing around April 30, backed by a strong mathematical correlation with the M2 supply. Colin suggests that this rally could extend over two months as M2 levels continue to rise sharply, potentially leading Bitcoin’s price to exceed $140,000 in the long run.
While April 30 is significant, Colin cautions against becoming overly fixated on this date, emphasizing the importance of the larger economic picture. He points out that rising M2 levels create favorable conditions for Bitcoin and other cryptocurrencies to thrive amidst heightened liquidity.
Currently, Bitcoin trades at $84,310, having fluctuated between $83,700 and $84,300 recently. The analysis suggests that bullish investors may need to exercise patience for another month while awaiting substantial upward movement. This time could pose challenges for short-term traders but also presents long-term holders with an opportunity to accumulate Bitcoin at lower prices before the predicted rally.
In conclusion, Colin’s analysis presents a promising outlook for Bitcoin, drawing correlations with the Global M2 money supply. Despite a notable delay anticipated before significant price movements, the projected upward trend could see Bitcoin exceeding $140,000. The emphasis remains on the macroeconomic conditions fostering a bullish environment for cryptocurrency investments.
Original Source: www.tradingview.com
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