Scary Bitcoin Forecast From Morgan Stanley Saying There Is No Support Up To $12500!

Cryptocurrency after the bankruptcy of the stock market FTX Bitcoin (BTC) and altcoinsharp declines occurred.

Bitcoin, which started the week with a decline, Binance CEO CZIt rose after the sharing of ‘s and stands at $ 16,760 at the time of writing.

Considering the bankruptcy of FTX and sister trading company Alameda Research Morgan Stanleysaid in a research report that after the bankruptcy of FTX and Alameda, the leverages in the crypto markets were cleared.

To cover the risks of creditors at the moment crypto- Stating that it contributed to market volatility by selling its assets, Morgan Stanley said that the spread of FTX’s bankruptcy to the stock markets has been limited so far.

Morgan Stanley pointed out that many events have led to the recent volatility in the crypto market. However, referring to FTX’s collateral for its own token FTT, the bank stated that the important point here is to evaluate the effects of using tokens for leverage.

“In a bull market it seems fine to use such a token as collateral for leverage, but in a bear market this strategy is risky.”

in Bitcoin (BTC) Stating that the bear market started about a year ago, the bank pointed out that the sellers are mostly institutional investors, while retail investors are in hodl mode.

bitcoin Stating that there is no clear technical support level between $ 18,000 and $ 12,500 in its chart, the bank has been in the last 12-18 months. BTC He said that investors who bought the market estimate the average break-even price to be around $45,000.

“Retail investors can start selling if Bitcoin trades below $10,000.”