Looking back at Bitcoin cycles during a podcast, Morgan Stanley analysts estimated that BTC was “currently in autumn.” Here’s a look at their point of view.
Morgan Stanley analysts weigh in on Bitcoin cycles
Since last month, cryptocurrencies have entered a phase of uncertainty. During a podcast on the subject, Morgan Stanley analysts Michael Cyprys and Denny Galindo discussed the topic, focusing in particular on the famous 4-year cycles. According to Denny Galindo, Bitcoin (BTC) is currently in autumn:
We divide the cycle into four seasons: spring, summer, fall, and winter. Each has its own characteristics. We are currently in fall, the harvest season—the time to take profits. But the big question is: how long will this autumn last before the next winter? Historically, cycles end around November 30, but that could change. It’s a topic of debate in the crypto world.
Throughout this exchange, the two analysts discussed how the bank views cryptocurrencies. For example, Morgan Stanley recommends a BTC exposure of 0 to 4%, depending on each investor’s profile. They compare Bitcoin to digital gold, and in terms of ETFs, they explain that Morgan Stanley is focusing on Bitcoin, to the detriment of other assets in the ecosystem:
Little interest in other cryptos at this time. We do not yet allow advisors to solicit investments in Ethereum or Solana, but that may come in the future.
After reaching an all-time high (ATH) of over $126,000, BTC is now trading at $105,000, down nearly 17% from its ATH. Since the beginning of the year, its performance is up 10.5%:
While the $100,000 level has held for now, price action over the coming weeks will test the theory of Morgan Stanley analysts.
