According to the American banking giant Morgan Stanley, the world’s largest cryptocurrency with a unit bitcoin There are two important factors that could point to a new bull run for the company.
Morgan Stanley Analysts Revealed Signs to Watch for Bitcoin
The bank’s analysts believe that the US Federal Reserve’s move to expansionary monetary policy could trigger a new rally.
The survivors of the crypto money loan companies, which experienced a major crisis right after the collapse of the Terra ecosystem, still continue to offer high returns.
The cryptocurrency futures market remains healthy despite significant corrections.
Morgan Stanley stated that the availability of leverage can also be considered an important sign that the crypto market may be on the verge of a new rally.
According to JPMorgan, another major American banking institution, cryptocurrency markets have already “found a bottom”. The bank’s analysts see Ethereum’s upcoming Merge upgrade as the main bullish catalyst for Bitcoin and other cryptocurrencies.
Mike Novogratz recently predicted that the Bitcoin price is unlikely to hit $30,000 in the near future as the Fed aggressively raises interest rates to contain inflation. However, the leading investor continues to believe in bullishness in the long run.
On the other hand, Bloomberg’s Mike McGlone recently claimed that it was only a matter of time before the biggest cryptocurrency regained $100,000.
*Not investment advice.
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