Morgan Stanley Executive Predicts Bitcoin To Witness A Short-Term Rally

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Over time, the crypto market has strongly correlated with US equities, and Bitcoin has indicated a significant correlation with S&P 500 index. The price of the primary crypto asset has followed a similar pattern to the stock. Many predictions from experts on BTC were drawn from the possible outplay for the equity stock. Also, the response of Bitcoin to critical macroeconomic conditions is related to that of the stock index. Following the correlation between the two markets, some market experts give forecasts for future price trends. According to Morgan Stanley’s CIO, Michael J. Wils ...

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