Where Things Stand With Bitcoin

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Market Overview

Bitcoin has been in a downtrend for 50 days now.

“100k Bitcoin” was the reality, now it can’t seem to break $85k.

What’s going on?

Is the bull market really over?

Are we getting a recession? And an extended bear market?

That is what engagement farming and incompetent imbecile "experts” on X would like you to believe.

Nobody was bearish 2 months ago, but now: “yeah it’s obvious, are you dumb? We’re going to $60k”.

No we’re not.

We’ve been telling you for weeks that there’s nothing out of the ordinary with what’s happening with Bitcoin.

Why is Bitcoin going down? There doesn’t have to be a reason!

Why is Bitcoin not reacting to positive news? Because it’s not time for it.

Why Are We So Confident?

Because we know what actually drives Bitcoin.

It’s liquidity. It’s global money supply.

And all those things… are going UP, not down.

So…

It’s just a matter of time before Bitcoin catches up.

And by the way…

This is not some train that we’re just jumping on.

We’ve been telling you that liquidity is the true driver of Bitcoin from the very beginning before anyone else. See our first ever post 15 months ago.

Now…

When you look at this Bitcoin (black) and M2 (pink) chart, what do you see?

You see that M2 goes parabolic.

And that Bitcoin is in the process of catching up.

You see that Bitcoin is only a few weeks away from resuming the bull run.

20-40 days give or take.

And again…

This is not something we just started talking about.

We were talking about the Bitcoin-M2 relationship here:

The blue circle.

We were mentioning BACK THEN that there is a risk Bitcoin will top because of M2.

Now, more and more people are discovering the Bitcoin-M2 relationship, but that doesn’t make it less viable.

It’s not an edge that can be alpha-decayed.

The more money supply there is, the more money people have to spend on risk-on assets. It’s really that simple.

What could change is the timing of the correlation. But as long as M2 is going up like this, Bitcoin will rise.

So Is This The Bottom?

Nothing says Bitcoin can’t go a bit lower than this.

In fact, it actually might.

But again… 20-40 days. That’s all we’re going to need.

Bookmark this post.

I’ll be posting many “I told you so” screenshots in the months to come.

The sentiment of traders and retail is truly and unprecedentedly bearish it’s insane.

I haven’t even mentioned on-chain data and how oversold and undervalued price is.

I don’t think we can ever get a clearer signal than this.

And just to leave you with something:

Here’s how Bitcoin looked like 1 month before the 2023 bull run started in October:

Not so pretty right?

And yet… the signs were there.

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