The outlook for Bitcoin’s price remains under careful consideration as market analysts evaluate the potential for the world’s leading cryptocurrency to hit $140,000. Given BTC’s recent decline and variable pricing, the prospect of a sudden surge to $140,000 may be met with skepticism. Nevertheless, the analyst points to global M2 Money Supply, showcasing its link with Bitcoin and supporting the likelihood of a significant upward movement.
Fresh conversations have surfaced in the crypto realm regarding the connection between Bitcoin’s price behavior and the global M2 Money Supply. The pseudonymous crypto analyst ‘MoneyLord’ has forecasted an enormous price increase to $140,000 for BTC based on M2 data. The analyst pointed out that many are doubtful about the significance of M2 Money Supply, possibly questioning its continued predictive power regarding Bitcoin’s performance.
Global M2 Money Supply Set to Propel Bitcoin to $140,000
According to MoneyLord, the recent discrepancy between Bitcoin and M2 data should not be seen as a failure of the model, but instead as a result of aggressive market manipulation and heightened stress within global financial systems. In his technical report released on X, he stated that, absent significant market manipulation and the bankruptcy of major entities, Bitcoin would have likely continued to align with global liquidity expansion.
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MoneyLord believes these shocks have temporarily restrained BTC’s price growth, likely affecting its recent downturn and sluggish pace. With market conditions beginning to stabilize, the analyst indicates that Bitcoin is ready to realign with global M2 Money Supply trends, potentially paving the way for renewed upward movement.
From this viewpoint, the current phase is perceived as a lagging response rather than a breakdown of the cycle. MoneyLord anticipates that if Bitcoin begins to converge with M2 data, the cryptocurrency’s price could surpass $140,000 sooner than the market predicts. The accompanying chart illustrates this optimistic forecast, showing global liquidity, represented by the blue line, steadily increasing towards the projected price.
With Bitcoin trading around $90,000 following a decline of over 6% this month, achieving $140,000 would necessitate a rise of at least 55%. Attaining this benchmark would establish a new all-time high, surpassing its current peak of over $126,000 by more than 10%.
Bitcoin Demonstrates Resilience During Market Sell-Offs
As per crypto analyst Don, Bitcoin has rebounded after a period of sharp sell-offs that eliminated many traders and incited widespread liquidations. The analyst pointed out that buyers have intervened to regain essential support and restore confidence in the market as BTC resumes trading within a clearly defined ascending triangle pattern.
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The chart illustrates that the triangle has an upper limit near $94,324 and a lower limit around $89,241. Price movements within this formation indicate that Bitcoin is consolidating and likely building momentum for a possible breakout.
Featured image from Pixabay, chart from Tradingview.com
