The “business cycle” narrative in Bitcoin/crypto is the new M2 chart

Over a year ago, I cautioned against the clear cherry-picky of a visual correlation that ignored reality and confirmed biases

Try and recall which accounts were ready to live and die by this meaningless, temporary correlation in M2 and realize they’re the same ones clinging onto the business cycle turning up from here

ISM/PMI is due for a cyclical trough next now that it’s past peak cycle amplitude — you can’t just point to it rising because your portfolio and your bullish reputation rides on it

A cyclical lower low is very possible — even probable like we saw in the 2000s. But since that’s before Bitcoin, most analysts ignore all previous history

I notice that most of the regurgitated, deceptive narratives like M2 and biz cycle originate from RealVision, then gets echo-chambered by every big crypto “analyst” because it seemingly validates their hopes

Beware who you trust