released on monday spot Bitcoin ETF Even though the approval news was later revealed to be fake, investors and the market BTCThe expectation that it will rise has increased.
Investors have bullish expectations Morgan Stanley Wealth Management’A positive report came from .
According to Coindesk news, Morgan Stanley Wealth Management, He said the cryptocurrency winter may be over.
at this point Pointing out that the halving event, which is expected to take place in 2024, is an important catalyst for BTC, Morgan Stanley analysts stated that most of the rises and gains in Bitcoin came immediately after the halving.
At this point, analysts examining historical halving data expect a rise similar to other years immediately after the halving, which is expected to occur in 2024.
“Based on the current data we have, the signs are that the harsh cryptocurrency winter may be a thing of the past and the crypto spring is likely on the horizon.”
Analysts examining Bitcoin’s historical data BTCNoting that the bottom in previous crypto winters occurred 12 to 14 months after the peak, “BTC hit an all-time high of $68,000 in November 2021 and bottomed out a year later.” said.
Morgan Stanley analyst Denny Galindo Stating that the rise experienced by Bitcoin in 2023 is a sign that it has reached the bottom in the last months of 2022, he said:
“A 50 percent price increase from Bitcoin’s low is generally a good sign that the bottom has been reached.
At this point, BTC is up 70% since the beginning of 2023 and 77% from last year’s lows.
Most of the rises and gains in Bitcoin come right after the halving. This shows us that the bull run period started with the halving event and ended when the Bitcoin price reached the previous peak.
By deliberately limiting the supply of Bitcoin in this context, the scarcity caused by the halving could impact the BTC price, potentially encouraging the start of a bull run. “
Pinned above $30,000 after fake ETF news on Monday BitcoinAt the time of writing, it is at $ 28,340.
*This is not investment advice.
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