Willy Woo: The cycle likely has topped, M2 growth not necessarily driving Bitcoin higher

BlockBeats News, December 2nd. Crypto analyst Willy Woo wrote: "Don't take for granted that the growth of M2 (broad money supply) will definitely drive Bitcoin's rise. At the end of the cycle, Bitcoin often leads the trend of M2. My personal view is that based on the model of funds flowing in and out of Bitcoin and the cryptocurrency space, we have likely already seen the peak."

"The Fed is cutting rates and increasing money supply, which would make you think that the global M2 money supply will rise. But if global investors are buying the dollar instead of purchasing risk assets, then the dollar will strengthen, and the global M2 will decline."