Cryptocurrency prices fell significantly on Thursday, as Bitcoin fell below $100,000, amid fears that digital markets are on their way to a more turbulent phase in the coming period.
This decline came after a report issued by Morgan Stanley, in which it indicated that Bitcoin has entered what resembles an “autumn season,” indicating a period of weakness that may precede a long period of calm before the start of a new cycle. The report confirmed that the markets are going through a sensitive state in which pressure is increasing as investors await the depth of the current decline.
Bitcoin fell by about 2.2% to reach $99,375, while other digital currencies recorded greater losses, as “XRP” declined by 2.4% to reach $2.39, while “Solana” lost approximately 5% of its value.
Analysts pointed out that Bitcoin historically follows a cycle that extends for several years, during which it goes through periods of strong rise followed by a year of less performance, explaining that the current uncertainty centers on how long this decline will continue and when the recovery phase may begin, which suggests the possibility of pressures remaining for a longer period before a new cycle begins.
