Morgan Stanley Announces! "Winter is Coming for Bitcoin! It's the Smartest Thing to Do!"
Bitcoin and altcoins witnessed a significant crash in October, with Bitcoin closing the month down 3.6%. Morgan Stanley strategist Denny Galindo likened Bitcoin's price cycle to seasons, suggesting it has entered the 'autumn' phase where investors should take profits before a potential 'winter.' Historical data indicates a 'three ups and one down' price cycle rhythm. Analysts, including Bitrue's Andri Fauzan Adziima, warned the recent declines signal a technical bear market. This is not investment advice.
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Overview of Market Crash in October
October, a month of historically high prices, saw one of the biggest crashes in history. Bitcoin (BTC) and altcoins experienced a major crash on October 11th, with Bitcoin closing the month down 3.6%, according to data.
November's Bullish Expectations
While bullish expectations remain for November—historically another bullish month—a new report has arrived from Morgan Stanley. This report attempts to provide a deeper understanding of Bitcoin's price cycle within the context of market trends.
Bitcoin's Seasonal Cycle
Morgan Stanley investment strategist Denny Galindo compared Bitcoin's cycle to the four seasons, noting it is now entering its autumn phase. According to Galindo, autumn represents harvest time and advised investors to take profits before a potential 'winter' phase begins.
"Three Ups and One Down" Price Cycle
Denny Galindo highlighted Bitcoin's historical data, illustrating a consistent “three ups and one down” rhythm in its price cycle. He warned that winter is approaching, urging investors to take profits in preparation for what he called the crypto winter. He stated, "We are in autumn now. Autumn is the harvest season, the time to take your profits. But the question is: How long will this autumn last? When will winter begin?"
Technical Bear Market Indicators
Bitrue research analyst Andri Fauzan Adziima recently stated in an analysis that the recent declines in Bitcoin and altcoins "officially point to a technical bear market."