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Analysts: The rise of M2 will drive Bitcoin prices to pump, potentially reaching $150,000 by the end of the year.
BlockBeats news, on July 2, according to Forbes, 21Shares cryptocurrency research strategist Matt Mena stated: “As the M2 Money Supply begins to rise again, historical data indicates that some liquidity will flow into Bitcoin and other digital assets.” Historically, the price of Bitcoin has tracked the M2 Money Supply, which is the Federal Reserve’s estimate of liquid assets, including cash, deposits in checking accounts, savings accounts, and other short-term savings instruments such as money market funds. Cryptocurrency influencer Anthony ‘Pomp’ Pompliano, who is about to lead a new Bitcoin acquisition company, wrote in an email: “If Bitcoin continues to follow the rise in Money Supply, we may see the price of each Bitcoin reach $150,000 by the end of the year.”