Morgan Stanley: Data Suggests Bitcoin's Crypto Winter May Be Ending

Morgan Stanley Wealth Management says the crypto winter may be ending based on data showing bitcoin's typical price cycles after peaks and troughs.

Bitcoin is up 70% year-to-date and 77% from 2022 lows, signaling the trough may be over as 50% gains often indicate.

Previous crypto winters saw bitcoin fall about 83% from highs before bottoming, and BTC dropped 77% in the latest cycle.

Bitcoin bull runs start with the halving when mining rewards are cut and end when BTC hits the prior peak price.

Halvings reduce bitcoin inflation and may spur price increases, with 3 such bull cycles occurring after halvings since bitcoin's creation.