Global M2 Money Supply Hits New ATH of $55.48 Trillion, BTC Could Hit $166,000 ATH Target

• The Global M2 money supply hits a new ATH of $55.48 trillion. 
• One analyst highlights a bullish factor marked by the golden ratio extension.
• He expects the price of BTC to hit a new ATH of $166,000 by the end of Q3.

The crypto community has always known that the price of BTC would pump higher, this is because, the price of BTC often follows the same pump pattern as the Global M2 money supply. Now, with the price of BTC up over the $108,000 price target, analysts believe it is done with corrections and dips and will soon follow the Global M2 money supply , which just set a new ATH of $55.448 trillion.

Global M2 Money Supply Hits New ATH of $55.48 Trillion 

The financial markets are buzzing over the fact that Global M2 money supply has hit a new ATH of $55.48 trillion. This sign bodes well for the future of other promising financial assets, including crypto assets and the crypto market as a whole. So far, several reputed financial experts have highlighted how the price of BTC always follows the bullish pump pattern of the Global M2 money supply. 

The only difference with BTC following the Global M2 money supply is the slight delay. In detail, the price movement of BTC will eventually follow that of the Global M2 money supply, but only after a few days to a couple of weeks delay. The same pump observation was made in several other instances from previous bull cycle pumps, as well as in the ongoing bull cycle. 

Ass in all, the crypto market, especially the price of BTC, has always followed the bullish lead of the Global M2 money supply, and this time is likely no different from the previous instances. As the post above highlights, the Global M2 money supply just hit a new ATH of $55.48 trillion, and reputed analysts expect the price of Bitcoin (BTC), the pioneer crypto asset, to follow its lead soon . 

$166,000 Next BTC ATH Bull Target?

With expectations for the price of BTC to pump soon, analysts are now debating how high this BTC price pump will take the asset. So far, the price of Bitcoin has hit a few 6-digit ATH prices, with the highest one being at the $111,000 price range. Next analysts expect the price of BTC to pump between $114,000 to a target as high as $140,000 . This would mark only a 30% pump for the asset.

As we can see from the post above, this analyst expects BTC to hit a bull target of $166,000 in the coming days. He explains how a golden ratio extension has nailed every major Bitcoin move this cycle, and now contemplates how long it takes to hit this target. The analyst concludes by stating that the $166,000 BTC ATH target could arrive by September, but admits that that could change entirely based on many factors.