Analyst: M2 Surge Will Boost Bitcoin Price, Could Reach $150,000 by Year-End

BlockBeats News, July 2nd, according to Forbes, Matt Mena, the Cryptocurrency Research Strategist at 21Shares, stated: "As M2 money supply begins to rise again, historical data suggests that some liquidity will flow into Bitcoin and other digital assets." Historically, the price of Bitcoin has closely tracked the M2 money supply, which is the Fed's estimate of liquid assets, including cash, deposits in checking accounts, savings accounts, and other short-term savings instruments.

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 growth of the money supply, we may see the price of each Bitcoin reach $150,000 by the end of the year."