A crypto analyst named TechDev thinks Bitcoin might be about to have its biggest surge ever. He looked at past patterns and indicators and says Bitcoin could reach really high prices. Here are the main points from his analysis:
1. **Past Surges**: Bitcoin had big price jumps in 2011, 2013, and 2017, but the surge in 2021 was different. This suggests the market might be changing.
2. **Patterns**: Bitcoin recently broke out of a certain pattern, which usually means a big jump is coming. This is seen as a very positive sign after five years of prices staying steady.
3. **M1 Money Supply**: Bitcoin has gone up against the M1 money supply for the first time since 2017. This suggests that the increase in Bitcoin's price is because more people want it, not just because there's more money around.
TechDev thinks this could be the start of something really big for Bitcoin, even bigger than what happened in 2021. He believes that because Bitcoin is doing well against the M1 money supply, it might perform even better in the future.
Understanding how Bitcoin is doing compared to big economic indicators like the M1 money supply helps us see if it's going to keep growing. If Bitcoin keeps going up compared to M1, it's a good sign for its future price.
