Bitcoin's price has seemingly been in a range since 2018, with critical levels appearing at $6,000 in 2018 and 2019, and $30,000 in 2021 and 2022. While these price points may appear disparate at first glance, they can be perceived as essentially the same level when adjusted for changes in the M1 money supply.
If Bitcoin's value continues to grow against the M1 supply, the $60,000 peak may be within sight again. This would align with the views of several analysts who believe that the fundamentals for Bitcoin are still robust, and the coin is well-positioned for a strong comeback.
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