In 2020, a massive amount of money was printed (First Image), which often found its way into markets, including crypto.
Expecting a $12,000 Bitcoin now seems unrealistic. But let's dig deeper. We should consider M1 and M2 money measurements. M1 covers easily spent money, while M2 includes M1 and less liquid assets.
Looking at the Bitcoin chart (Second Image), many experts suggest waiting for a $12K level. However, comparing BTCUSD to WM2NS (US M2 money supply) reveals Bitcoin's relationship with overall money supply and its role as an inflation hedge (Third Image).
We've already hit the 12K level in this context. So, do you think I have a valid point?
