June 27 (Cointime) - According to a top analyst, Bitcoin may reach its all-time high of $60,000 again. This optimistic outlook is based on a thorough analysis of Bitcoin's price performance, adjusted for the M1 money supply, which includes physical currency, demand deposits, traveler's checks, and other liquid assets.
By adjusting for changes in the M1 supply, Bitcoin's critical price levels of $6,000 in 2018 and 2019 and $30,000 in 2021 and 2022 can be perceived as essentially the same level. Despite the M1 supply contracting for a year, Bitcoin appears to be reclaiming this adjusted level, indicating a potential bullish run and the possibility of reaching the $60,000 peak again.
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