Morgan Stanley Predicts Bitcoin Will Fall to $14K

Reading time: < 1 minute

Bitcoin has rebounded quickly after dropping below $16,000 earlier this week. The asset even briefly broke above $17,000. However, the coin did not have enough support to overcome resistance in this area, and it rolled back on Tuesday, to the $16,000 level.

According Morgan Stanley analysts, another sell-off may take place in the coming days. Its result, most likely, will be a fall in the BTC rate below $15,000.

In the event of such a rollback, the crypto can only qualify for the nearest support in the region of $14,000.

In addition, Morgan Stanley analysts do not exclude Bitcoin will find the bottom at $13,500 or even $12,500. But this will be the worst scenario. Traders will turn to selling due to the fact that BTC was unable to gain a foothold above $17,000.

Louis Adams https://www.satoshihodler.com

I am an experienced crypto news writer. I have been in the industry for many years and believe this tech can bring financial freedom to everyone.