“Morgan Stanley’s prediction of Bitcoin (BTC) halving igniting a bull run showcases the growing mainstream recognition of cryptocurrency’s potential, further fueling excitement among investors.”
Investment banking giant Morgan Stanley has recently stated that the upcoming Bitcoin halving will spark a new bull run and mark the end of the crypto winter. In its report titled “Will Crypto Spring Ever Come?”, the firm compared the year-long crypto cycle to the four seasons, with spring approaching.
The Bitcoin halving is a significant event that occurs every four years, where the number of new Bitcoins created per 10 minutes is halved, leading to scarcity and an increase in value. Morgan Stanley believes that the upcoming halving could have immensely positive ramifications for the industry.
The firm also mentioned the potential approval of the United States’ first-spot Bitcoin ETF, which could further push the asset to new heights.
Historically, most of Bitcoin’s gains have come after the halving event. This bull run period starts with the halving and ends once the price reaches its prior peak. At this point, renewed interest from new investors and businesses can drive prices even higher.
Morgan Stanley predicts the halving to occur around April 2024 and suggests that the crypto winter may be in the past, with crypto spring on the horizon.
Overall, the firm’s assessment indicates optimism for the future of Bitcoin and the cryptocurrency market as a whole.