It is important for any fantasy and made up history for they’re to be a form of evil. Morgoth is just that. Many will say he represents Lucifer, Tolkien being Catholic and all that’s an understandable theory. I can sympathise with this theory in many ways, there are some similarities. Firstly he was a mighty spirit, like an angel, and he was the chieftain of them. Like Lucifer, who was a chief angel and is counted to have been given the greatest gifts of power, beauty and wisdom. As was Melkor.
He tries to raise himself above all his peers and wishes to be master over other wills. He is then cast from the order and remains an evil force in the world for many an age. And perhaps Melkor's being thrown into the void is a representation of Satan's being cast into hell.
Melkor's power and life force were bound to middle earth like all of the Valar. Also, one could say this referees to the fact that the black seed of evil that was left by Melkor, he still lived on. Like Sauron was his student and soon became the master in Morgoth's shadow.
That is one view. I cannot say that it holds all the water needed. There are many theories, but this was the only one I could think of at the moment.
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