October, a month of historically high prices, saw one of the biggest crashes in history. Bitcoin (BTC) and altcoins experienced a major crash on October 11th, with Bitcoin closing the month down 3.6%, according to data.
While bullish expectations remain for November, known as another bullish month, a new report has arrived from Morgan Stanley.
Morgan Stanley investment strategist Denny Galindo likened Bitcoin’s cycle to seasons and said it is now entering its autumn phase.
Morgan Stanley analysts led by Denny Galindo advised investors to take profits before a potential “winter” arrives.
Galindo noted that historical data shows a consistent “three ups and one down” rhythm of Bitcoin’s price cycle, adding that winter is ahead and urged investors to take profits in preparation for the crypto winter.
“We are in autumn now.
“Autumn is the harvest season, the time to take your profits. But the question is: How long will this autumn last? When will winter begin?”
Bitrue research analyst Andri Fauzan Adziima also said in a recent analysis that the recent declines “officially point to a technical bear market.”
*This is not investment advice.
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