Experts suggest that Bitcoin could resume its upward movement to reach $150,000 if U.S. President Donald Trump signs the "Big Beautiful Bill" on Independence Day. The expectations of growth are linked to historical price changes following the signing of such large spending proposals.
Predictions about the "Big Beautiful Bill"
Crypto experts are comparing the "Big Beautiful Bill" to stimulus measures during the COVID-19 pandemic. Following the signing of the COVID-19 relief bill, Bitcoin surged by 38%. Given the current U.S. national debt level at $40 trillion, it is anticipated that the "Big Beautiful Bill" could prompt a similar rally for Bitcoin.
Impact of Rising Global M2 on Bitcoin
The rising global M2 money supply is viewed as one of the factors contributing to bullish Bitcoin forecasts. The M2 supply reflects the liquidity in the economy, and an increase tends to lead investors toward riskier assets like cryptocurrencies. Bitcoin has historically reacted to M2 changes with a delay of 3 to 6 months, but recent instances have shown a much shorter delay of just 1-2 weeks.
Dollar Weakness and Its Impact on Bitcoin
A weakening dollar tends to increase demand for Bitcoin. The Dollar Index (DXY) dropped 10.8%, marking its worst performance in over 50 years. During this period, Bitcoin gained 13.25%, showing an inverse relationship between Bitcoin and the dollar, which has historically led to significant market shifts.
Thus, if historical trends hold, Bitcoin could initiate a fresh upward movement driven by continued dollar weakness and the anticipation surrounding the "Big Beautiful Bill."
