Based

Dollar

Bank

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-bitcoin-surge-based-on-global-liquidity-signal/" data-wpel-link="internal">Analyst Predicts Bitcoin Surge Based on Global Liquidity Signal</a> 
For the first time in about a year, an important Bitcoin bull signal has flashed, indicating a potential price breakout. The global liquidity model’s bull Bitcoin signal was shared by Jamie Coutts, the chief <a href="https://en.coin-turk.com/pyth-network-price-sees-a-dip-with-anticipation-of-a-recovery/" data-wpel-link="internal">crypto analyst</a> at Real Vision. In a post on X on August 15, Coutts wrote that he expects Bitcoin to rise much higher based on this signal: 
“My composite global liquidity momentum model (MSI) has provided the first Bull regime signal since November 2023. Remember, Bitcoin rose 75% from November to April before the regime turned Bear.” 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-380275 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/jamir.webp" alt="" width="1624" height="825"> 
<h2 class="p1" style="text-align: justify" id="important-statements-from-the-famous-analyst">Important Statements from the Famous Analyst</h2> 
According to Coutts, the same bull signal preceded a 19-fold Bitcoin rally in the 2017 cycle and a six-fold rally in the 2020 cycle. Coutts predicts that the bull signal could translate to a two to three-fold increase in Bitcoin’s price. However, he explained that this largely depends on the performance of the US Dollar Index (DXY) and overall global liquidity: 
<blockquote> 
 “For Bitcoin to reach this target, the DXY must be well below 101, driven by ongoing central bank injections. This would push global M2 well above $120 trillion in this cycle.” 
</blockquote> 
However, Bitcoin <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">prices</a> may face headwinds in the short term. Over $1.4 billion in Bitcoin options will expire at 11:00 AM on August 16 if Bitcoin fails to recover above $60,000. 
<h2 class="p1" style="text-align: justify" id="details-on-the-subject">Details on the Subject</h2> 
The ever-expanding global M2 money supply could help Bitcoin rise above $60,000. According to Coutts, last month the Bank of Japan added $400 million, while the People’s Bank of China added $97 billion in credit to the global monetary base, increasing it by $1.2 trillion. Coutts added that this trend is likely to continue due to the fractional reserve system’s economy: 
<blockquote> 
 “This is the natural state in a credit-based fractional reserve system. The money supply must continuously expand to support unpaid debt. Otherwise, everything will collapse.” 
</blockquote> 
However, Bitcoin’s price movement will largely depend on inflows from US spot Bitcoin exchange-traded funds (ETFs), which have recently stagnated. According to Farside Investors <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a>, after two consecutive days of positive inflows, ETF inflows turned negative on August 14, with US ETF funds seeing a total negative outflow of $81 million. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-380274 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/flow-1.webp" alt="" width="737" height="610"> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-bitcoin-surge-based-on-global-liquidity-signal/" data-wpel-link="internal">Analyst Predicts Bitcoin Surge Based on Global Liquidity Signal</a></h5>
The post <a href="https://en.coin-turk.com/analyst-predicts-bitcoin-surge-based-on-global-liquidity-signal/" data-wpel-link="internal">Analyst Predicts Bitcoin Surge Based on Global Liquidity Signal</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Analyst Predicts Bitcoin Surge Based on Global Liquidity Signal

Table of Contents

COINTURK NEWS

Other articles published on Aug 15, 2024

Memecoins Are Poised For 10,000% Gains as Dogecoin (DOGE) Leads the Charge

OSCE hosts crypto training for Armenian and Georgian investigators

ELFi Protocol, a DEX Derivatives Platform, Officially Launched with a $100,000 Airdrop Event

After Germany Now US Govt Began to Move Millions In Bitcoin, Massive Sell-offs Coming?

Solayer’s Solana Restaking Mainnet Launch Secures $160M TVL in Record Time

MoonTaurus (MNTR) Surges 100% to $0.01, Analysts Forecast a Potential Rise to $3 by Q4 2024

Join our free newsletter for daily crypto updates!