Analysts from the American investment bank Morgan Stanley explained why crypto investors should not be afraid of the 50% drop in the price of Bitcoin. According to analysts, the price of Bitcoin has fallen by 50% before. It was noted that this cryptocurrency has been on the market since 2009, and during this time, the “bearish” cycle has repeated itself 15 times.
Crypto investors be patient
The report by Sheena Shah, head of the Morgan Stanley digital currency research department, concludes that determining a fair Bitcoin rate is extremely problematic, as trading in the crypto market is heavily speculative.
According to Shah’s report, the market could see more weakness if Bitcoin price drops below $28,000. However, if Bitcoin breaks above $45,000 once again, this development could also indicate the end of the downtrend. The bank points out that Bitcoin has witnessed 15 bear markets since 2009 and that the decline seen in recent months is within the range of what has happened before. Morgan Stanley analysts also emphasized that crypto investors should be patient.
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