M2 money supply could trigger a ‘parabolic’ Bitcoin rally — Analyst
Swyftx lead analyst Pav Hundal warns against going all-in on a quick correction but remains bullish on the month ahead and beyond.
The growing M2 global money supply could trigger a major Bitcoin rally, but an analyst cautions against betting everything on the emerging signal.
“This isn’t a market to bet your whole stash on a quick correction, but our central scenario is still for a strong March and beyond,” Pav Hundal, the lead analyst at Australian crypto exchange Swyftx, told Cointelegraph.
“In normal times, global loosening measures are a pretty reliable lead indicator for crypto,” Hundal said. “The data we have suggests that spot buyers are active right now, and the US has raised its debt ceiling by $4 trillion dollars.”
