[Willy Woo: The cycle has likely peaked, M2 growth may not drive Bitcoin upward] BlockBeats news, December 2, crypto analyst Willy Woo posted: 'Do not assume that M2 (broad money supply) growth will necessarily drive Bitcoin upward. At the end of a cycle, Bitcoin often leads M2's trend. My personal view is that, based on models tracking capital inflows and outflows in the Bitcoin and cryptocurrency space, we have likely already peaked.' 'The Federal Reserve is lowering interest rates and increasing money issuance, which might lead you to think that global M2 money supply will rise. But if global investors are buying dollars instead of risk assets, then the dollar strengthens, and global M2 (denominated in USD) will decline.'