Record-Breaking Global M2 Climbs, Fueling Speculation That Bitcoin Price May Mirror its Ascent Once More

Bitcoin, the world's largest cryptocurrency, reached a new all-time high (ATH) of $124,000 last month, marking a significant milestone in its volatile journey. However, a correction followed in September, causing the price to dip to $113,000.

Despite this dip, analysts remain optimistic about Bitcoin's future. They believe the price of Bitcoin will follow the increase in the Global M2 Money Supply, an economic indicator that has historically influenced Bitcoin's price pattern, albeit with a three-week delay. Notably, the Global M2 Money Supply has recently hit a new ATH.

This bullish sentiment is shared by the crypto market as a whole. Despite short-term bearish expectations, the market maintains a long-term bullish view, as indicated by the Global M2 Money Supply and the identified bullish signals for Bitcoin.

Two popular crypto analysts have identified separate bullish signals for a potential Bitcoin price pump. One analyst believes a daily close above the current downtrend and/or post-breakout retest would confirm a Bitcoin price increase, potentially pushing the price towards the $120,000 range. Another analyst suggests that Bitcoin has broken out from the downtrend channel, further supporting the notion of a potential move towards the same price range.

Analysts such as those from Coinpedia, Changelly, and Kryptovergleich have recently published expectations on Bitcoin’s reaction to the current economic developments in the crypto sector. They project a continued bullish momentum with potential price targets ranging from about $110,000 to over $175,000 through late 2025. However, they also acknowledge risks of pullbacks to around $95,000–$114,000 depending on market support levels.

The price of Ethereum, the second-largest cryptocurrency, may also potentially follow the price pattern of the Global M2 Money Supply, as it has done at times in the past. This could further fuel the ongoing crypto bull run.

In conclusion, while the crypto market is currently observing these bullish signals for a potential Bitcoin price increase, it is essential to remember that the crypto market is inherently volatile. Investors are advised to conduct their own research and consider their risk tolerance before making investment decisions.

Record-Breaking Global M2 Climbs, Fueling Speculation That Bitcoin Price May Mirror its Ascent Once More