Wall Street investment bank Morgan Stanley thinks the Bitcoin top could be in as investors are diversifying into newer cryptocurrencies on decentralized exchanges like Uniswap, particularly speculative meme coins.
Heading into June 2023, the Bitcoin price has risen approximately 100% from its November 2022 lows of just under $15,500.
Investing in Bitcoin, Ethereum vs New Cryptocurrency Assets
With the Bitcoin price dropping back under the $27,000 level earlier today, the market cap of Bitcoin now stands at $522 billion.
A move back to its all-time high hit in the last crypto bull run - $69,000 in November 2021 - would be a 2.5x increase in the Bitcoin price.
The Ethereum price retesting its ATH of $4,800 from its price today of $1,800 would be a 2.66x rise.