The massive rise in liquidity injected by central banks to save the world from falling into a deflationary depression has led to a strong recovery in all asset classes.In the medium to long term, the rise in money supply should lead to higher prices in assets with limited supply such as gold or bitcoin.Even though bitcoin has shown strong co-movement with risky assets such as equities in the past two years, we expect it to decouple in the coming months.More liquidity will simply lead to higher bitcoin prices.