Willy Woo: The cycle is likely to have peaked, and M2 growth may not necessarily drive Bitcoin up

Cryptanalysis expert Willy Woo posted: "Don't assume that an increase in M2 (broad money supply) will necessarily drive Bitcoin up. At the end of the cycle, Bitcoin often leads the trend of M2. My personal view is that, based on models of inflows and outflows in the Bitcoin and cryptocurrency space, we may have already peaked."

"The Federal Reserve is lowering interest rates and increasing the money supply, which might lead you to believe that the global M2 money supply will rise. However, if global investors are buying dollars instead of risk assets, then the dollar will strengthen, and global M2 will decrease."