Raoul Pal, a former manager of US banking giant Goldman Sachs, pointed out an important data that could continue the Bitcoin (BTC) bull.
Raoul Pal, co-founder and CEO of financial media platform Real Vision, posted on social media on October 29. in the postincreasing total money supply (M2) between the rise in the cryptocurrency market and to correlation mentioned. Highlighting that most of the bull runs in the past coincided with the increase in fiat money supply, the analyst hinted that the rise may continue.
Looking at the charts presented by Raoul Pal 2021, 2017 And 2014 bull seasons in to the increase of M2 data parallel It looks like he’s gone. However, as the M2 level decreases, that is, as the money supply in global markets becomes stagnant, Bitcoin decline It’s happening.
In addition to his shares, the CEO stated that Bitcoin from Nasdaq He emphasized that it was time to perform better with the following statements:
Global really likes M2… This is when BTC outperformed Nasdaq and crypto became the Super Big Black Hole.
Especially Covid pandemic Wanting to find a solution to the stagnant economy during and after the process, the USA printed a significant amount of money. This money printing brings with it the price of Bitcoin. new records He brought it.
M2 is the amount of dollars that the US Federal Reserve estimates are in circulation. This data includes all the cash people have and all the money deposited in other short-term savings instruments, such as savings accounts, checking accounts, and certificates of deposit.
