Bitcoin is STILL Bullish End of Year? Here's Why!

Long term holders of BTC seems to be selling while new buyers are entering at the moment. It has caused choppy sideways action. Once sellers and traders are exhausted from selling I believe we should see Bitcoin continue its late end of year rally. End of year remains one of the strongest for crypto performance historically speaking. Investors like Tom Lee from Fund Strat is still calling for a possible $150-200k Bitcoin end of year as well. Furthermore we see an increase of liquidity into the US and global economy when we look at the supply of money or "US M2" or Global M2 charts. This is usually a good indicator to watch in terms of how Bitcoin might perform in the coming weeks. So despite the short term sell pressure I think we finish the year quite strong.

Here is a chart of the US Money Supply (US M2) hitting an all time high and we should see it hit even higher levels through the end of the year with the Fed cutting rates twice already and possibly a third time.

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