Hello!
I've been out this weekend with some friends. Now I'm home and I'm trying to read twitter/X to see if there is anything worth taking the time to research.
I've found some people talking about the correlation between Global M2 (money supply in billions of dollars) and the Bitcoin price. The chart below shows the correlation with a 10 week lead for the money supply.
Here's the chart:
As you can see, when the money supply contracts, the price of Bitcoin also contracts later, and when the money supply expands, it also drives the price up. Well, if this correlation is true, we could potentially be in the bottoming zone as @QuintenFrancois published in his twitter page. Well, after investigating, I found that the chart was initially published by @RaoulGMI.
Will this happen? I don't know. But it's interesting to know.
@ColinTCrypto is also covering this at twitter with the chart below. It's not exactly the same as the first chart, but you get the idea.
I've also read that Michael Saylor published again the Microstrategy portfolio tracker where you can see the evolution of the Bitcoin price and all the buy orders that he made. He usually says that it needs more orange and the day after there is an announcement that Microstrategy bought more Bitcoin.
And 6 hours ago, he published the chart again with the same sentence. So...
It's almost guaranteed that tomorrow Microstrategy will announce another buy order from Microstrategy and they will be hodling more than 500,000 Bitcoin.
There is 2 kinds of people, people with conviction and people who don't have conviction. Michael did his own research and now is following his conclusions to the latest consequences. He's a fucking beast.
And he convinced the Gamestop CEO to also buy Bitcoin. We are going to see more companies follow this path.
At some point competition to get Bitcoin will be very fierce. Hope you have some!
Have a great week!
