According to Morgan Stanley, many investors invested in Bitcoin and other digital currencies when its price fell in 2021.
In 2022, the situation deteriorated sharply, and Bitcoin has lost about 70% in value. Those investors who bought at the peak still refuse to sell cryptocurrency. According to Morgan Stanley analysts, they are waiting for the resumption of the BTC rally in order to dump the asset on the most comfortable terms.
The report states that approximately 78% of Bitcoins have not been involved in transactions over the past six months.
According to an analysts at the bank, these traders prefer to refrain from selling at current prices. They hope that soon the cryptocurrency will win back the losses and repeat last year’s race.