BroadChain, April 24, 17:16, according to Bitcoinist, cryptocurrency analyst KillaXBT pointed out that the market generally misunderstands the correlation between the M2 global money supply and Bitcoin price. By comparing the past three bull and bear cycles, the analyst found that Bitcoin price peaks before M2, after which M2 continues to rise. Only when M2 reaches its peak does Bitcoin enter a long-term downtrend.
Currently, M2 has not yet peaked, meaning Bitcoin's decline may be far from over. Investors need to prepare for further downside after M2 eventually tops out.