Engineer Predicts Bitcoin’s Massive Bull Cycle with M2 Buy Signal
Amid fluctuating Bitcoin prices, crypto commentator Ted Boydston predicts an imminent bull run based on the M2 price oscillator, which has issued a buy signal. Historically, this oscillator has accurately predicted Bitcoin’s price surges, suggesting a potential rise to $225,000. The signal, except for in 2016, has consistently indicated bullish momentum by capturing the effects of liquid money circulation. Boydston’s analysis implies possible increased volatility and price appreciation for Bitcoin holders, aligning the prediction with Fibonacci retracement levels. Despite previous market challenges, traders remain optimistic about Bitcoin’s near-term targets, potentially reaching $150,000 to $1 million. Boydston views his $225,000 forecast as realistic given the current conditions.
Bullish
The news is considered bullish due to the historical accuracy of the M2 price oscillator in predicting Bitcoin surges. When this oscillator issues a buy signal, it frequently precedes significant bullish movements in the market, as it suggests increased liquidity, which has historically aligned with positive price trajectories, akin to pre-2016 and other bullish cycles. Current trader optimism towards achieving higher targets supports the bullish sentiment.