RT – March 20, 2018: American banking giant Morgan Stanley has predicted a dire end to the Bitcoin phenomenon, comparing it to the tech bubble of 2000. But this time, according to the bank, events will escalate much faster.
Some 18 years ago, the Nasdaq rallied 250 to 280 percent in its most “exuberant” periods ahead of bear markets, just like cryptocurrency market does, Morgan Stanley said in a note to its clients.
A rise in trading volumes could be another indicator of bitcoin’s nearing collapse, added the Morgan Stanley analyst. “The follow-up rally for both bitcoin and the Nasdaq always saw falling trading volumes,” Shah said. “Rising trade volumes are thus not an indication of more investor activity but instead a rush to get out.”
“Just that the Bitcoin rally was around 15 times the speed,” said Sheena Shah, strategist at Morgan Stanley, as quoted by CNBC.