Bitcoin Eyes $132K Target After Holding $118K Support; Best Crypto to Invest As M2 Money Supply Reaches Record High
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Bitcoin Eyes $132K Target After Holding $118K Support; Best Crypto to Invest As M2 Money Supply Reaches Record High

Bitcoin remains stable above $118,000, with an eye on the $132,000 mark. This comes as the global M2 money supply hits an all-time high, provoking discussions on potential investment opportunities.

Despite a volatile market, Bitcoin has maintained a solid position, hovering just above $118,000 and currently trading at $118,204.60. As speculation rises, many are considering which cryptocurrencies are primed for investment amidst potential bullish trends.

Analysts suggest that Bitcoin might target around $127,000 to $132,000. However, investors are advised to tread carefully, given Bitcoin’s history of unpredictable fluctuations.

BTC Price Chart BTC’s current trading status has led many to ponder a breakout or a potential downturn.

Investors are particularly focused on understanding the effects of the global M2 money supply, which has reached historical highs, potentially serving as a catalyst for Bitcoin and the broader crypto market’s performance.

Insights on Global M2 Money Supply

Many speculate that this upswing in M2 suggests that Bitcoin could soon experience a similar rise, as greater liquidity tends to push up demand for scarce assets. Reports highlight how the pandemic stimulus caused M2 to surge dramatically between 2020 and 2021, correlating with Bitcoin’s dramatic price elevation from $10,000 to nearly $69,000.

According to Juan José Francisco, “During the 2020 Fed rate cuts, Bitcoin’s price surged approximately 50% over the subsequent six months, while Ethereum saw a 30% increase.”

Conclusively,

Investors are encouraged to wait for a strong trend before diving into the market. With the M2 supply hitting record levels, the $150,000 mark is becoming a point of speculative discussions regarding Bitcoin’s next potential peak.

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