This chart shows BTC adjusted in alignment with the value of USD, when M1 money supply is accounted for.
As we know M1 was discontinued by the Fed allegedly because it paints a less than rosy picture of high inflation. The website shadowstats has done an excellent job of tracking these figures since the 70's.
When BTC is adjusted for this we can see that in this bull run, up to May we didn't even surpass the previous ATH. Ben Cowen covered this on his Youtube channel recently.
I have noticed a massive cup & handle forming on the daily chart & wanted to share it with you guys here. If you have any further ideas on this interesting chart please link in the comments!
NOT FINANCIAL ADVICE
As we know M1 was discontinued by the Fed allegedly because it paints a less than rosy picture of high inflation. The website shadowstats has done an excellent job of tracking these figures since the 70's.
When BTC is adjusted for this we can see that in this bull run, up to May we didn't even surpass the previous ATH. Ben Cowen covered this on his Youtube channel recently.
I have noticed a massive cup & handle forming on the daily chart & wanted to share it with you guys here. If you have any further ideas on this interesting chart please link in the comments!
NOT FINANCIAL ADVICE
Comment:
A little ahead of ourselves here so hopefully BTC chills around $50k-ATH for a bit and lets the altcoins shine!
