Morgan Stanley report: Crypto bear market may be over, bull market may be coming

"Based on current data, there are signs that the crypto winter may be over and spring may be on the way," Morgan Stanley Wealth Management said in a post on its website. Morgan Stanley pointed out that in previous crypto bear markets, Bitcoin’s bottom occurred 12 to 14 months after the peak; it reached an all-time high of approximately $68,000 in November 2021 and bottomed a year later. . Strategist Denny Galindo wrote: "Bitcoin's price rising 50% from its lows is usually a good sign that it has hit a bottom." Bitcoin is up 70% so far this year and is up 77% from last year's lows. Furthermore, the magnitude of Bitcoin’s decline is also important; in previous cycles, its price lows were down approximately 83% from its previous highs. The report states that most of Bitcoin’s gains have occurred directly after the halving, and that this “bull cycle begins with the halving event and ends when Bitcoin price reaches its previous peak.” In addition, the report adds: “ There have been three such bull markets since Bitcoin’s inception, each lasting 12 to 18 months.” (CoinDesk)