According to Morgan Stanley Wealth Management analysis, the cryptocurrency market may start to rise again.
Morgan Stanley Wealth Management, in its report published this week bear market situation evaluated.
In the report, “Current data indicates that winter in the crypto market may be behind us and spring may be on the horizon.” It was said.
Bitcoin has generally experienced periods of decline after reaching its peak in the past. It lasts for 12-14 months It is stated. Bitcoin peaked at $68,000 in November 2021 and bottomed the following year.
Bitcoin, 70% since the beginning of the year; It gained 77% value compared to last year’s low levels. Denny Galindo, who prepared the report, said: “Bitcoin gaining 50% in value compared to its lows is generally a good sign that the bottom has been passed.” said.
According to the report, the decline experienced by Bitcoin size is also an important element. Galindo points out that there has been a roughly 83% difference between Bitcoin’s historical peaks and valleys. BTC in November 2022 approximately losing 77% of its value It had dropped to around $16,000.
Bitcoin will be released next April, just like every four years. halving will live. With the halving of block rewards, the inflationary pressure on BTC will ease.
Galindo, Bitcoin in general after halving He says it’s on the rise and “bull run periods begin with the halving event and end when Bitcoin reaches its previous peak.” He comments.
This situation has been around since the day Bitcoin emerged. three times Galindo said that each race continued for 12-18 months after the halving and added:
“Deliberately restricting the supply of new Bitcoins through halving could impact the Bitcoin price and potentially trigger a bull run.”