The fall of the leading cryptocurrency Bitcoin on March 12 was actually seen all over the world and in almost every asset. Despite this, the fact that BTC acted with the leading stock exchanges of the USA in both the downturn and the occasional upturn, provided an important correlation between the two asset classes.

Although the correlation between bitcoin and exchanges seems to have deteriorated in recent weeks, a report by Morgan Stanley suggests that this is still ongoing. The report, published by Morgan Wilson, one of the executives of Morgan Stanley, states that exchanges can make a comeback similar to that in 2009. As it is known, the world experienced one of the biggest economic crises of the last 100 years in 2008 and saw the bottom of the USA stock markets. If indeed a similar increase is observed in 2009, it may not even be possible for not only stock exchanges but also Bitcoin, which has increased at the same rate, to break records.

2009 Similar Recovery in Stock Markets
In fact, it is possible to see that the process is very similar when looking at historical events. In the beginning of 2020, stock markets and stock markets fell to the lowest levels. Black Thursday literally reset everything and made room for ascension. The expected rise could be seen very soon, according to the Morgan Stanley expert. Stating that the stock markets recovered after the crisis in 2009, namely the Great Recession, are drawing a similar chart now, Wilson thinks that this will bring a bull run to Bitcoin along with the stock exchanges.

Looking at the graph published by Wilson, it is seen that the S&P 500 Index is almost exactly the same as in 2009.

S&P 500's progress towards 1000 points as in 2009 will mean that Bitcoin will increase its value by 20%. This is expected to increase the leading cryptocurrency to a price level of $ 12,000. Although the $ 12,000 level seems to be even below the 2019 record, breaking the resistance at $ 10,500 can start a real FOMO.

The Ascent Expected by Bitcoin Can Come From Exchanges
Although Bitcoin has tested $ 10,000 three times since March 12, it has never managed to go above $ 10,500. If the rise in S&P 500 and other exchanges also benefits Bitcoin, a significant buying pressure can occur after the price rises to $ 12,000. If Bitcoin investors start to think that the price will reach $ 20,000 after the price goes up to $ 12,000, it is possible to say that a new record can indeed come with the formed FOMO.

Of course, whether or not Bitcoin is ready for such an increase is of great importance for now. When the 20,000 record was broken in 2017, the average transaction fee on the network increased to $ 50 and almost everything had come to a halt. Despite this, protocols such as Lightning Network and SegWit developed based on the bad experience at that time should shoulder the burden of the network. This shows that in a possible record moment, the Bitcoin network will not be locked badly, at least as in 2017. Perhaps Bitcoin may have finally been ready for an all-time record.