As reported by Coingraph News Given that Morgan Stanley has given an optimistic outlook on the state of the cryptocurrency market, It is believed that the crypto winter may be over and “spring” is on the way.
Morgan Stanley Sees End of Crypto Winter
In the latest article They suggest that it is winter for cryptocurrencies. This is when the bear market may have ended. According to an article published on Tuesday. It is emphasized that current data indicates the end of the cryptocurrency winter. And it was the beginning of the so-called trending period. This sentiment is based on detailed analysis and market indicators.
Morgan Stanley focuses on historical patterns in the cryptocurrency space, specifically Bitcoin (BTC) which the previous crypto winter The value of Bitcoin typically declines approximately 12 to 14 months after it peaks. In this case, Bitcoin hit an all-time high of nearly $68,000 in November 2021 and hit rock bottom a year later.
Bitcoin’s historical price pattern
According to strategist Denny Galindo, a key indicator of the market recovery is the sharp increase in Bitcoin price after bottoming out. As the price of Bitcoin rose approximately 50% from its lowest level. It often signals the end of a recession, with Bitcoin showing a remarkable recovery trend, up 70% year-to-date and up 77% from last year’s lows. impressively
Galindo also stressed the importance of the event. It noted that the event has triggered three notable bull runs in Bitcoin’s history, each lasting approximately 12 to 18 months after the halving event, reducing the supply of new Bitcoin and triggering dramatic price increases. significant This will ultimately help promote a positive market sentiment.
refer : coincu.com
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