Investment banking giant Morgan Stanley stated in his latest report that the expectations for a “V” recovery in the economy have strengthened. A recovery, as the bank predicted from the last quarter of this year, could increase investors’ risk appetite, and Bitcoin could benefit from this along with stocks.
Investment banking giant Morgan Stanley stated that the expectations of a V-shaped recovery in the economy have strengthened in the “Global Mid-Year Macro Outlook” report published on Sunday. According to the bank, the recession will be more violent than expected, but it will take a short time.
“Given our upward surprises in growth data and policy actions, our confidence in our V-shaped recovery has increased,” the report said. expressions were used.
The bank predicts that global growth levels will reach pre-epidemic levels in the last quarter of this year. The company bases its predictions on the fact that consumers and economies begin to return to normal faster after quarantine measures, pharmaceutical companies are making progress in treatment and vaccination, and that their monetary and fiscal policy responses are stronger than expected.
Morgan Stanley expects global GDP to shrink by 8.6 percent on an annual basis, while increasing 3.1 percent in the first quarter of 2021.
A recovery, as the bank predicted from the last quarter of this year, could increase investors’ risk appetite, and Bitcoin could benefit from this along with stocks.
With the market value, the biggest cryptocurrency increased its relationship with stocks during the epidemic. In March, when the markets suffered great collapses, Bitcoin also lost more than 40 percent. The recovery was also in harmony with the shares.