Summary
- It was emphasized that attention is on whether "Bitcoin" can reach a record high of $120,000.
- Analyst Ted Pillows highlighted the 80% correlation between Bitcoin and the global money supply, indicating a potential rise according to the trend.
- As President Trump postponed the mutual tariff deadline, it is projected that Bitcoin could reach $120,000 within a few weeks.
Attention is on whether Bitcoin (BTC) will reach a record high of $120,000.
According to Cointelegraph, a cryptocurrency-focused media outlet, analyst Ted Pillows stated that, "Bitcoin is lagging behind the global money supply," and analyzed that, "If Bitcoin catches the trend of the money supply, it can rise."
There is about an 80% correlation between Bitcoin and global liquidity. Typically, Bitcoin lags the M2 money supply by about 60 days.
Ted further added, "President Donald Trump has postponed the mutual tariff deadline to August 1," and, "Bitcoin will reach $120,000 within a few weeks."
Uk Jin
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