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BTC price prediction based on Manufacturing PMI is dumb:PMI stayed below 50 in 2023 and early 2024

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Ignas | DeFi Research
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2 months ago
AI summarizes in 5 seconds.

BTC price prediction based on Manufacturing PMI is dumb:

PMI stayed below 50 in 2023 and early 2024, yet BTC pumped from $16k to $73k

If you waited for PMI to reach 50, you would've missed 350% pump

Also, US Economy is ~80% services, and less than 15% manufacturing GDP (Yes, I gemini'ed it)

Claiming Bitcoin is driven by liquidity, institutional adoption (now ETFs), gold, and fiscal dominance makes sense.

Manufacturing doesn't


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