The post Bitcoin Price To Recover With Global M2 Money Supply Soon: Wall Street Analyst appeared on BitcoinEthereumNews.com.

Bitcoin price has recovered above $94,000 levels after making a fresh low of $91,380 earlier today as selling pressure on the world’s largest cryptocurrency fades slightly. Veteran Wall Street investor Raoul Pal expects the Global M2 Money supply to expand once again, triggering a strong recovery in BTC from here onwards. Will Bitcoin Price Follow Global M2 Expansion Similar to 2016-17? The Global M2 money supply has been falling in the last two years, which led to discussions that Bitcoin doesn’t have enough liquidity support for the price rally to continue. Founder of Global Macro Investor and Wall Street veteran Raoul Pal said investors should not panic from the recent market movements. The global money is exactly similar to the 2016-17 charts and could probably witness a strong expansion moving ahead, he added. Source: Raoul Pal However, the major concern among investors is that while the global money supply has shrunk in the last 2 years, Bitcoin price hasn’t retraced enough to stage a trend reversal. For several years, BTC has been closely following the M2 supply. Thus, if it repeats this pattern, we might see a drop to $70,000 before resuming the uptrend. Several market analysts are already stressing this possibility considering macro headwinds ahead. Source: Raoul Pal BTC Follows 2016 Pattern However, Pal counters this fear rhetoric by showing that Bitcoin price is showing an exactly similar move to that in 2016. Sharing a chart of the current BTC movement and the 2016 pattern, Pal wrote: “It’s all going to be just fine. Maybe a bit lower or maybe it’s done already. Either way, higher over time. Don’t expect an exact repeat but a rhyme. Valhalla waits. Don’t Fuck This Up”. Source: Raoul Pal Bitcoin Will Be Gold on Steroids Chris Kuiper, the Director of Research at Fidelity…

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Filed under: News - @ January 10, 2025 9:27 am