Analysis: The correlation between money supply and bitcoin price trend is 0.78

LongHash issued a document today, fitting the US dollar M1 year-on-year growth rate from January 2013 to June 2019 with the bitcoin price and found that the correlation between the two is only -0.53, the degree of fitting is poor, and the increase of M1 The speed is more volatile. Interestingly, after plotting the US dollar M1 year-on-year growth rate and the bitcoin price trend in 2013, it was found that after December 2017, the pace of the bitcoin price and the US M1 year-on-year growth rate suddenly appeared to be consistent. The phenomenon, the correlation coefficient of the two is 0.78, showing a significant correlation.