While bulls point to next year’s halving as a bull catalyst, any sizable uptrend is likely contingent on major central banks boosting their year-on-year M2 money supply growth rates, past data show.
Highlights
- Bitcoin’s year-to-date gain of 56% in 2023 is consistent with the timing of the previous price bottoms.
- Those bear markets ran out of steam roughly 15 to 16 months before the next halving.
- Any sizable uptrend is likely contingent on major central banks boosting their year-on-year M2 money supply growth rates, past data show.
- Bitcoin’s price has recovered from the depth of the past year’s bear market, marking a recovery from the previous year’s decline.
Read the original article
US judge denies SEC's attempt to appeal Ripple ruling.