What Happened on May. 29th | Bitcoin Price and Global M2
Shared by Raoul Pal, the chart below shows the Bitcoin price YoY% vs Global M2 YOY rate.
The M2 money supply is a measure of the money supply that represents all of the liquid assets available to the economy at large that are held in banks and other financial institutions.
Long-term, there is a strong correlation between the pace of change in the world's money supply and the change in Bitcoin's price. Since its inception, Bitcoin has been seen as a safeguard against the fiat currency system, where the government will always want to utilize monetary policy—i.e., printing more money, to stimulate the economy.
In the short term, however, there are more factors need to be considered, such as market sentiment and government regulation changes.
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