Citing MetaEra, Morgan Stanley wealth management investment strategist Denny Galindo likened Bitcoin’s price cycle to seasons, suggesting the current phase is akin to autumn—a time for harvesting gains before a potential downturn. Galindo noted historical data shows a consistent three-up-one-down pattern in Bitcoin’s cycle and advised investors to lock in profits ahead of a possible 'crypto winter.' On November 5, Bitcoin fell below $99,000, breaching its 365-day moving average, a key technical indicator often used to gauge market direction. Analysts view this as a strong bearish signal, with Bitrue’s Andri Fauzan Adziima stating the drop 'officially marks the start of a technical bear market.' Meanwhile, despite the volatility, institutional investors continue to see Bitcoin as a macro hedge against inflation, with Michael Cyprys of Morgan Stanley noting that ETFs are making it easier to access the asset. He added that institutional adoption is growing, though changes in asset allocation tend to be slow due to internal processes and long-term investment mandates.
Morgan Stanley Compares Bitcoin Cycle to Seasons, Urges Profit-Taking Ahead of 'Winter'
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