Bitcoin’s Next 460% Rally? Rare Fiat Signal Triggers Crypto Hope

A rare surge in the global money supply, reaching a 9% year-on-year growth rate, has sparked speculation of a significant Bitcoin bull run. Charles Edwards, founder of Capriole Investments, points to historical data showing that similar increases in the global money supply have previously preceded substantial Bitcoin price rallies. In the past, these surges led to Bitcoin price increases ranging from 136% to 663%, averaging a remarkable 460% gain within the following year. Edwards notes that central banks are actively increasing the fiat money supply, creating a potentially bullish environment for Bitcoin. This analysis is further supported by the recent movement of 81,000 Bitcoin, worth $8.8 billion, representing the largest ever transfer of coins older than ten years. While this could signify profit-taking, the “Apparent Demand” indicator remains positive, suggesting sustained bullish sentiment for Bitcoin. This indicator measures Bitcoin demand by comparing its production (mining) to its inactive supply, showing continued demand despite the large coin movement. Currently, Bitcoin trades around $108,400, showing a slight weekly increase. The convergence of these factors—the surge in the global money supply, the large movement of old Bitcoin, and sustained apparent demand—presents a compelling case for potential future growth in the Bitcoin price. The historical precedent suggests that the current circumstances are ripe for another significant Bitcoin bull market, potentially mirroring the past substantial gains observed after similar increases in the global money supply. However, it is crucial to note that past performance is not indicative of future results, and market volatility remains inherent in cryptocurrency investments.

(Source: https://www.newsbtc.com/bitcoin-news/bitcoin-another-460-run-rare-fiat-signal-returned/)