-Bitcoin (BTC/USD) is currently trading at 69,300 and is up 0.17% in 2 timeframes, indicating a bullish outlook for the bitcoin price, especially if it is above the 69,100 bitc
oin level.According to #CoinShares International Ltd. Crypto asset inflows reached £18,500 million in the week ended September 31. Investors poured 20 billion yen into digital asset-related investment products, including #bitcoin exchange traded funds, over a 5-month period.
Earlier this week, the bitcoin exchange rate briefly surpassed the ¥70,000 mark, signaling market confidence despite the mixed performance of other #cryptocurrencies .
TechDev's tweet highlights a key pattern in bitcoin's price behavior related to its relationship to the m1 money supply. The M1 money supply includes physical currency and coins, demand deposits, traveler's checks and other checkable deposits. It is the most fluid form of money.
According to TechDev, bitcoin has historically experienced a "growth peak" - a sharp rise in price followed by a sharp fall - only after it broke out due to the M1 money supply.
This is important. #StartInvestingInCrypto will only reach an "explosive peak" after breaking through to the M1 money supply.
And the longer it is integrated, the longer it will run.
TechDev notes that bitcoin's consolidation period (the stage of moving in a narrow range before the end of the price rise) correlates with the period of subsequent bullish growth.
The longer the integration lasts, the greater the growth. In this case, TechDev emphasizes that the current breakout will follow bitcoin's longest period of integration to date.
If TechDev's observations hold true, bitcoin's recent breakout against the m1 money supply shows the potential for significant price appreciation. Long-term consolidation suggests bitcoin could potentially make new highs in preparation for a broad uptrend.
According to CoinShares International Ltd. In the week ended September 31, inflows into crypto assets reached ¥18,500 million.
Key takeaways:
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