Historically, the cryptocurrency market has benefited from the rise in global money supply, as the majority of bull runs in the past coincided with the rise in fiat supply.The rising total money supply could propel crypto into another bull rally and help it outperform the traditional markets, according to Raoul Pal, co-founder and CEO of financial media platform Real Vision. Pal’s X post highlighted the correlation between the rising fiat market supply and the start of the crypto bull run.
Over the past decade, Bitcoin’s price has made significant gains during the fast growth of M2, owing to a reduction in interest rates, quantitative easing and fiscal stimulus. On the contrary, during times of monetary tightening by central banks, the cryptocurrency market has struggled to gain bullish momentum. The 2021 bull market coincided with 6% or higher aggregate M2 growth at the Fed, European Central Bank, Bank of Japan and People’s Bank of China.
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