As Thanksgiving approaches, memories of 2020ās 17% #Bitcoin plunge ā from $19,500 to $16,200.
This year, Bitcoin has already seen an 8% correction, dipping from $98,871 to $90,791 earlier this week š¬
š” Why this Concerns ?
šµ Global M2 Money Supply: Bitcoin's price has historically tracked global M2 (money supply) with a ~70-day lag. Since September 2023, global M2 has shrunk by $3.6 trillion, raising the possibility of a 20-25% correction in $BTC , potentially targeting $73,000.
šµ Historical Parallels: In 2020, Bitcoin bounced back from the Thanksgiving dip to triple in value within 5 months. Some experts believe this could repeat.
š„ What Experts Say ;
šµ Alex Thorn (Galaxy Digital): Draws parallels to the 2020 dip, speculating if history will "rhyme."
šµ Joe Consorti (Theya): Warns of Bitcoinās tether to global M2 but notes #ETFs inflows and corporate buying could resist further drops.
šµ Jamie Coutts (Real Vision): Sees potential for a short-term dip but highlights #bullish signals for 2025, citing potential Federal Reserve liquidity support.
š Why This Matters ;
Despite the recent dip, Bitcoinās resilience and structural driversālike ETF inflows and institutional buyingācould signal bullish long-term momentum. Remember, these corrections are often just "pitstops" in Bitcoinās journey.
š Donāt Panic Sell!
As one analyst put it: "If you truly understand Bitcoin, you donāt panic sell." š
