The REAL Bull-Market Has Yet To Come: Here's Proof!
In this analysis I want to talk about the M2 Global Money Supply indicator. This indicator basically shows how much money there is in circulation and how much is being printed.
The indicator itself is not that usefull since it's just going up (more money is printed over time). However, the rate at which money is printed is more interesting, hence I slapped an RSI indicator on top of it.
As seen on the chart, the RSI of the Global M2 shows that Bitcoin tops around the time that the RSI tops. It's not accurate enough for day-trading, but at least useful for to detect long-term moves.
The RSI of the Global M2 has always topped around the 70-75 points. It's currently sitting at 60.3, so there's quite some room left to grow (last time it took almost a year to go from 60 >75).
Furthermore, we can see that the "real" bull-market or Hype Phase starts once the RSI is above 65 and continues to climb.
In short, the "real" bull-market has not started yet and BTC has much more room to grow over the next 1-2 years.
Happy to hear your thoughts on this analysis.
The indicator itself is not that usefull since it's just going up (more money is printed over time). However, the rate at which money is printed is more interesting, hence I slapped an RSI indicator on top of it.
As seen on the chart, the RSI of the Global M2 shows that Bitcoin tops around the time that the RSI tops. It's not accurate enough for day-trading, but at least useful for to detect long-term moves.
The RSI of the Global M2 has always topped around the 70-75 points. It's currently sitting at 60.3, so there's quite some room left to grow (last time it took almost a year to go from 60 >75).
Furthermore, we can see that the "real" bull-market or Hype Phase starts once the RSI is above 65 and continues to climb.
In short, the "real" bull-market has not started yet and BTC has much more room to grow over the next 1-2 years.
Happy to hear your thoughts on this analysis.
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