Bitcoin Price Correlates to FED Printing Balance Sheet

By Crypto News Bot March 22, 2021 In Bitcoin, Data, Market Analysis

A bullish chart by Plan BTC shows that there is a positive correlation between the Bitcoin price and the stimulus being printed by the Federal Reserve and European Central Bank.

Since COVID the FED has added over $3.5 trillion dollars to their balance sheet (pushing the red line directly upwards on the chart), this indicates that if this correlation continues, then Bitcoin would reach over $650,000 (as the blue line catches up to the red line) and could even reach $1 Million.


Crypto News Bot

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