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The Bitcoin price will fall over the next few months – that’s what Denny Galindo, analyst at the investment bank Morgan Stanley, expects. According to him, a continuation of the four-year cycle is likely. He recommends investors take profits and buy more next year.
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Bitcoin Price: Morgan Stanley Analyst Expects Losses
How will the Bitcoin price develop over the next few months? Some analysts continue to expect a bright future for the largest cryptocurrency. Arthur Hayes continues to swear by price gains. According to his assessment, BTC could rise to up to $250,000 by the end of the year.
- Bitcoin
(BTC) - Price $102,316.00
- Market Cap
$2.04 T
Hayes has been extremely euphoric over the past few weeks. The monetary policy of key industrial countries – especially the USA, China and the EU – is aligned in such a way that it should bring considerable profits to crypto.
The four-year cycle in which the Bitcoin price has moved so far may be obsolete, according to Hayes’ assessment. New factors could trump the importance of halving.
Denny Galindo, price analyst at the investment bank Morgan Stanley, recently announced his personal assessment in a podcast. Accordingly, he does not agree with Hayes’ forecast at all. Currently, Bitcoin is in the autumn of its price cycle. Drastic losses are to be expected soon.
“We are currently in the autumn season. And that usually lasts about a year,” explains Galindo.
The autumn of the Bitcoin cycle usually comes to an end in November. An important key date is November 30th. The crypto market is currently at a crossroads. Investors are weighing up whether the cycle will continue longer than usual this year.
“The question, of course, is how long this autumn will last. When does the next crypto winter begin? We’ve looked at the past and found that autumn usually ends around November 30th. (…) As November 30th approaches, people will discuss whether this cycle will last a little longer.”
Price Analyst Recommends Timely Sales of BTC and Co.
Galindo gives crypto investors a concrete tip: The autumn of the Bitcoin cycle should be used to realize profits and sell off invested cryptocurrencies.
“Now is the time to take your profits,” said the investment bank analyst.
However, Galindo’s recommendation appears at a very bad time – at least with regard to the market leader BTC. Because Bitcoin is trading at just $105,000 at the time of going to press. At the beginning of October, the cryptocurrency set a new all-time high of $126,198.
Should Galindo’s assessment prove to be true, his tip could at least protect investors from further losses over the next few months.
“If you look at the data, you can see a pretty clear trend of a four-year cycle. So there are three years of upswing and one year of downturn, and that has been running like clockwork since the invention of Bitcoin,” he explains.
Accordingly, investors should be able to reacquire their sold BTC at a lower purchase price over the next few months. However, Galindo admits that the previous cycle may be disrupted.
“Maybe this pattern won’t exist at all in the future. That is currently the big debate in crypto circles.”
Galindo attributes the fact that BTC and crypto have so far been subject to a four-year cycle to global inflation. When the money supply rises, crypto wins. If it falls, crypto falls. The devaluation of fiat currencies is therefore of central importance.
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